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2008 (4) TMI 460 - HC - Income TaxBusiness Expenditure-Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the expenditure incurred towards the foreign travel of the managing director as business expenditure when no proof or records were available to claim it as a business expenditure? Commissioner (Appeals) held that there was no evidence for claiming such expenditure thus confirm the demand. Tribunal allow the claim. Held that- the matter has to be heard in detail by the Tribunal with reference to the explanation offered on February 3, 1999, and fresh findings have to be recorded. Hence, the order passed by the Tribunal is hereby set aside and the matter is remitted back to the Tribunal for fresh consideration of the explanation offered by the assessee by way of note dated February 3, 1999, and pass appropriate orders.
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