TMI Blog2012 (8) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... he eyes of law in upholding the deletion of the addition of ₹ 55,40, 38,959/- made by the AO u/s 68 of the Income Tax Act, 1961, on account of the unexplained cash credit, ignoring the material fact that the assessee had failed to substantiate the credit worthiness of the shareholders and the genuineness of the transactions 2. Whether the ITAT was correct in the eyes of law in upholding t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the non-residents of computerized reservation system 5. Whether the ITAT was correct in the eyes of law in upholding the deletion of the addition of ₹ 30,40,170/- made by the AO on account of disallowance of 50% of total expenditure incurred by the assessee in issuing the free tickets was a business expenditure, claimed as business expenditure, when the said expenditure had not been incur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to prove that the expenditure was incurred wholly and exclusively for the business purposes 8. Whether ITAT was correct in the eyes of law in upholding the deletion of addition of ₹ 21,60,000/- made by the AO, on account of disallowance of consultancy expenses, paid by the assessee to M/s Sahara India International Corporation Limited, invoking the provisions of Section 40A (2) of the In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsideration i.e. AY 1996-97.\ 11. Whether the ITAT was correct in the eyes of law in upholding the deletion of the addition of ₹ 10,17,553/- made on account of disallowance of the Air Travel Tax paid by the assessee, when the same is covered u/s 43B of the Income Tax Act, 1961 and for which no proof of payment has been furnished. It is open to the parties to file additional documents ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
