In absence of any adverse material, AO cannot question the wisdom & business expectancy of Assessee

ACIT Vs Chadha Power (ITAT Delhi) Insofar as disallowance of reimbursement of expenses made to two non-resident entities i.e. Chadha Projects JLT, Dubai of Rs.1,30,51,568/- and Rs.21,33,805/-to Chadha Power (SA) Pty. Ltd., South Africa. The assessee’s case has been that the said reimbursement of expenses of both the entities were for carrying out market research for feasibility and expansion of market in neighboring countries particularly in Gulf and African region and day-to-day coordination in activities for the assessee, negotiation and procurement of orders, securing of materials, supply...