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2015 (4) TMI 85 - ITAT LUCKNOWDisallowance of foreign travel expenses - Held that:- the CIT(A) has observed that no specific instance of non-business expenditure or unverifiable expenditure is pointed out by the Assessing Officer. While allowing the claim of the assessee, the CIT(A) has also observed that the average expenditure of the assessee is below 400 USD per day which is in accordance with the norms of daily expenditure abroad adopted by the RBI for the purpose of granting foreign exchange in foreign visits. - Revenue could not point out a single instance of non business expenditure - No infirmity in CIT's order. Disallowance made out of vehicle running expenses and depreciation - Held that:- Revenue could not point out as to on what reasons the disallowance can be made in the case of the company which is juristic entity when the vehicles are owned by the company. In the case of company there cannot be any element of personal use of the vehicle by the company, therefore, no disallowance can be made. no infirmity in the findings of CIT(A). Disallowance of Property Tax paid in USA - Held that:- as per the matching principle whenever income earned abroad is taxed in India, the expenditure incurred in earning the same is to be allowed. Therefore, we do not find any infirmity in the order of CIT(A) and confirm the same. - Decided against Revenue.
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