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2012 (7) TMI 101 - AT - Income TaxExpenditure incurred on sponsorship & other expenses of Polo tournament - dis-allowance - assessee contended it to be advertising and corporate image building expenditure - Held that:- Majority of the clients of the assessee were sister concerns under the same family management, therefore, there was no business benefits to the assessee by making such expenditure on advertisement. Further promoting the brand SONA is also not of any help to the assessee as most of the clients are from the same group. aforesaid are personal expenses. Dis-allowance upheld Legal & professional charges - Held that:- Assessee has completely failed to establish or to produce any evidence which can prove the fact that this expenditure was incurred wholly and exclusively for the business purpose of the assessee company. Assessee had also failed to contradict the fact that these expenses were personal in nature - Dis-allowance upheld Traveling expenses incurred on travel of company's President for business meetings - dis-allowance on ground that assessee has failed to establish the purpose of such meetings with the prospective clients - Held that:- No details of the prospective clients have been filed. Also, assessee was not having any business connection in those countries. Dis-allowance upheld. Expenditure incurred on training of employees - revenue or capital expenditure - Held that:- Same is revenue in nature - addition made is deleted.
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