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2015 (11) TMI 1509 - AT - Income TaxDisallowance of 25% of the foreign Travel expenses - vouchers for each of the expenditure incurred were not furnished - Held that:- The nature of the business of the assessee and the income generated by the assessee, we are of the considered view that the expenses incurred by the assessee to the tune of ₹ 15,02,047/- towards overseas travels is quiet reasonable. Moreover it is evident that the assessee had purchased the foreign currency and no portion of the same is surrendered. From the meager amount of ₹ 15,02,047/- incurred towards foreign travel expenditure it cannot be presumed that any significant amount would have been spent for personal purpose. Therefore, we hereby direct the Ld. Assessing Officer to delete the addition made for ₹ 3,75,512/- towards disallowance of foreign travel expenses. - Decided in favour of assessee
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