Thursday, 17 April 2014

Matter remanded as AO didn't give an opportunity to assessee to explain genuineness of lease back tr

IT : Where assessee-company claimed a certain amount by way of foreign travelling expenses of directors and employees and Assessing Officer disallowed such claim on ground that details called for were not furnished, but Tribunal following its order made in assessee's own case for earlier assessment years allowed claim of assessee, Tribunal committed an error in allowing travelling expenses without its full verification


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