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2015 (10) TMI 1497 - AT - Income TaxAddition of various expenses like cargo, brokerage and commission, business promotion, insurance and legal expenses, etc. - CIT(A) deleted the addition in part - Held that:- Both the A.O. and the Ld. CIT(A) have not stated that the expenses are not genuine and there is no allegation as to any cash receipts. All receipts are through proper banking channels. The accounts are audited the method of accounting certified as proper as per Accounting Standard. The only point of consideration is whether while interpreting the clauses of agreement it should be taken as "All" the expenses and not only those expenses as per the manifest. The very fact that the entire expenses have not been claimed by the assessee would show that the assessee has gone by the terms of the agreement and claimed as reimbursement only expenses of ₹ 10830728/–. With respect to all other expenses which the assessee has to bear it by himself, we are of the opinion that they are business expenses which would be necessary in the course of the business and therefore revenue in nature and is allowable - Decided in favour of assessee.
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