TMI Blog2019 (6) TMI 744X X X X Extracts X X X X X X X X Extracts X X X X ..... te of filing return of income - Decided against revenue Disallowance on account of foreign tour allowance and foreign tour expenses - CIT(A) held that in absence of any specific findings or rejection of books of accounts, disallowance made thereon is not in accordance with law - HELD THAT:- The facts remain admitted that there was no evidence before the CIT(A) which clearly shows that no reference whatsoever made by him in the impugned order regarding any specific evidence showing details of foreign tour allowance and identity and purpose of visits relating to foreign tour expenditure. Therefore when there is no evidence relating to the issue on hand before all the authorities including this Tribunal, we find the impugned order passed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ect of the disallowance under Rule 8D(2)(iii), the CIT(A) upheld the addition made by the Assessing Officer to the extent of ₹ 11,54,825/- whereas, in our opinion, it is reasonable taking into considering the investments which yielded exempt income. The relevant portion of CIT(A) is reproduced hereinbelow: For this proposition, reliance was palced by the A/R on decisions in the case of M/s. Balarampur Chini Mills Ltd. vs. DCIT in ITA No.504/k/2011 for Assessment Year 2008- 09 dated 29.07.2011; and by the High Court of Gurjarat in case of CIT v. Suzlon Energy Ltd. [2013] 215 Taxman 272/33 taxmann.com 151. Similar view has also been taken by the Bombay High Court in the cases of Reliance Utilities Power Ltd. (313 ITR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... une of ₹ 61,16,905/-. These grounds are partly allowed. 4. In view of the above discussions made in the aforementioned paragraphs, we find no infirmity in the order of the CIT(A) and it is justified. Ground No.1 raised by the Revenue is dismissed. 5. Ground No.2 is relating to deletion of addition made on account of Employees Contribution towards provident fund. 6. The Assessing Officer disallowed an amount of ₹ 7,10,013/- for not depositing the employers contribution before due date as per relevant provision. The CIT(A) by placing reliance in the case of CIT vs. M/s. Vijay Shree Limited in ITA No.245 of 2011 of Hon ble High Court of Calcutta, deleted the addition by observing that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perusal of the details of accounts under the head foreign tour allowance and foreign tour expenses , the Assessing Officer show-caused the assessee to produce relevant details to ascertain how the foreign exchange purchased by the assessee was spent and whether such expenses can be considered as business expenses of the assessee. Further the Assessing Officer held that the assessee failed to provide the identity of the person going on foreign travel. The purposes of such travel are not substantiated, the genuineness and business exigency of such foreign tour. Therefore, it is clear that there was no evidence to show the foreign tour allowance was incurred towards business expenditure and foreign expenditure was incurred towards business ..... X X X X Extracts X X X X X X X X Extracts X X X X
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