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2013 (9) TMI 970 - HC - Income TaxDisallowance of petty miscellaneous expenses – Held that:- Assessee agreed to the said addition on the ground that it was difficult to collect details from their offices all over India for all expenses over Rs.5000/-. However, some details were furnished vide letter dated 29.10.1999 - Turnover of the assessee was substantial, nearly Rs.68 Crores. Rs.34.9 lacs was a trivial amount, only 0.5% of the total turnover – Assessee-respondent suffered substantially high losses of Rs.372 Crores in last ten years and therefore addition of Rs.34.9 lacs was not material as the respondent assessee was not to pay any tax - Accepted the explanation given by the respondent-assessee and were satisfied about the bonafides of the said explanation – Decided against the Revenue.
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