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2011 (2) TMI 963 - AT - Income TaxExpenses disallowed not incurred wholly and exclusively for the purpose of business - Personal or business expenditure - assessee has spent Rs. 21,43,220 in foreign currency for the training of Mr. Vishesh Bhatt in USA Mr. Vishesh Bhatt is the son of Mr. Mukesh Bhatt who is the major shareholder of the assessee company - Held that:- As it is observed that during the financial year 2003-04 relevant to assessment year 2004-05 under consideration, Mr. Vishesh Bhatt went to Italy and U.K. and has not gone to New York. From the copy of the Passport it is also observed that Mr. Vishesh Bhatt got VISA of USA on 23-7-2004 which falls in the financial year 2004-05 relevant to the assessment year 2005-06 and not in the year under consideration i.e., assessment year 2004-05. Therefore, it cannot be said that during the year under consideration the Mr. Vishesh Bhatt has gone on tour to New York, USA for study in New York University, passed in the Board Resolution. Thus the assessee has failed to establish that Mr. Vishesh Bhatt, Director of the company has gone to USA for training in New York University during the year under consideration. Thus the assessee is not entitled to deduction claimed as training expenses of a Director sent to USA for the course of Cinematography and film/video production - uphold the findings of the ld. CIT(A) in sustaining the disallowance made by the Assessing Officer.
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