No addition when no evidence about expenses being bogus in nature

Vishakhapatnam Port Road Company Ltd Vs ACIT (ITAT Delhi)

With respect to the payment of Rs.99,000/-, it is the contention of the assessee that the amount of Rs.99,000/- was made as a provision entry for F.Y. 2015-16 relevant to A.Y. 2016-17 towards internal audit fees payment to M/s. T. R. Chadha & Co., who the internal auditors of the company. Since M/s. T. R. Chadha & Co. has raised invoice in subsequent Financial Year i.e. in F.Y. 20 16-17 after the completion of work, it was not reflected in their confirmation.

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