Tax Exemption can’t be allowed in the absence of Evidence substantiating Claim of Reimbursement of Expense as Cost to Cost Basis: ITAT [Read Order]

By Yogitha S. Yogesh - On December 23, 2022 2:25 pm - 2 mins read
Tax Exemption - absence of Evidence - Reimbursement of Expense - Cost - ITAT - Income Tax - taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that tax exemption can’t be allowed in the absence of evidence substantiating the claim of reimbursement of expense on a cost-to-cost basis. The assessee company M/s Eversendai Construction Private Limited (“M/s.ECPL”) is a subsidiary of Eversendai Constructions (s) Pte Ltd, Singapore. The company…

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