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2014 (4) TMI 24 - AT - Income TaxDeletion made u/s 14A of the Act – Invocation of Rule 8D of the rules – Held that:- The decision in Maxopp Investment Ltd. & Others Versus Commissioner of Income Tax [2011 (11) TMI 267 - Delhi High Court] followed - the matter is required to be sent back to the file of the Assessing Officer for re-computation of disallowance under Section 14A, without applying Rule 8D – but, the assessee’s requested to sustain the addition due to smallness of the amount – thus, the disallowance made by the AO is upheld – Decided in favour of Revenue. Deletion made on expenses – Expenses incurred on foreign travelling of directors – Admission of additional evidences – Held that:- CIT(A) was of the view that primary purpose of directors’ visit was to meet Senior Vice President of Fairbank Morse in support of which copies of relevant e-mails were produced before the CIT(A) - The assessee had also produced before the CIT(A) the evidence of other business meetings in Indianapolis and Munich - the foreign travel undertaken by the two directors who were actually engaged in the business of the assessee was for the purpose of business – thus, there is no need to interfere with the order of CIT(A) – Decided against Revenue.
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