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2021 (7) TMI 308 - HC - Income TaxDisallowance of 50% of credit card expenses - AO held that the assessee has not adduced any evidence that drawings made by the Directors through their personal credit card are in fact, incurred for the purpose of business of the company - of Income Tax (Appeals) as well as tribunal held that no evidence has been adduced by the assessee to show that expenses are incurred for purposes of business by assessee - HELD THAT:- As pertinent to note that before the tribunal the assessee had filed the documents with regard to the claims made by the assessee - tribunal has rejected the aforesaid application on the ground that the documents annexed with the application are neither certified nor have been filed before the tribunal and the Assessing Officer. It has further been held that no application for admission of additional evidence along with documents was filed. As held by the tribunal that no cognizance can be taken of the document along with the documents filed by the assessee. Thus, in the absence of any document on record, all the authorities have rightly disallowed the credit card expenses. Similarly, in the absence of any evidence on record, the disallowance of business development expenses and disallowance of foreign travel expenses has been upheld. Whether the assessee has added a sum as provision for wealth tax in income is a question which has to be ascertained after remand and after giving an opportunity of being heard to the assessee. The findings of fact have been recorded by the Assessing Officer, Commissioner of Income Tax (Appeals) and the tribunal do not suffer from any infirmity. The aforesaid findings are also not demonstrated to be perverse. Substantial question of law are answered against the assessee and in favour of the revenue.
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