Allowing the appeal the Court held that the books of account had not been doubted by any of the authorities. The Tribunal was not justified in sustaining the disallowance of expenses at 10 per cent. of the expenses paid to port workers as incentives. Addition was deleted. (AY. 2007-08 to 2009-10)
Ganesh Shipping Agency v. ACIT (2021) 435 ITR 143 / 281 Taxman 637 (Karn.)(HC)
S. 37(1) : Business expenditure-Clearing and forwarding business-Speed money to port labourers-Trade practice-Self made vouchers-Books of account not rejected-10% ad hoc disallowance is held to be not justified. [S. 145]