2002 PTD 764

Case Laws / Head Notes / Paras

----Profit and loss expenses---Disallowance of---History of the case---Relevance---Admissibility of claim of expenses under each head for every year is to be considered independently on the basis of facts available for that year---Expense disallowed for one year for non-production of evidence in support of the claim could be allowed for another year when the claim is substantiated with the evidence---History of the case may be relevant for estimating the quantum of an expense to be allowed in case the claim is not substantiated with any material but it cannot be a sole deciding factor for admissibility or non-admissibility of the claimed expenses.