Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 483 - AT - Income TaxAllowable revenue expenses - licence fee paid to Remfry & Sagar Consultants Pvt. Ltd. (RSCPL) - as submitted by assessee being a law firm was using the goodwill of RSCPL being a company prohibited from arguing law in India as per the Advocates Act, 1961 and Bar Council of India Rule - HELD THAT:- As relying on own case [2021 (9) TMI 998 - ITAT DELHI] deduction claimed by the assessee on account of licence fee paid to M/s Remfry & Sagar Consultants Pvt. Ltd., is allowable as revenue expenditure u/s 37 of the Act. Consequently, grounds No.1 and 2 of the Revenue being devoid of merits are dismissed. Nature of expenses - disallowance of travelling and entertainment expenses - the personal use element in respect of these expenses cannot be ruled out considering the nature of expenses - CIT-A deleted the addition - HELD THAT:- As relying on assessee own case [2021 (9) TMI 998 - ITAT DELHI] when the AO has not disputed the books of account qua the expenditure claimed by the assessee in any manner ad hoc disallowance of 10% on foreign travel expenses is not sustainable in the eyes of law. Appeal filed by the Revenue is dismissed.
|