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Due to suo motu disallowance, additional disallowance on travel and foreign travel expenses unjustified
Case Law Details
- Case Name
- Garware Finance Corporation Limited Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 30/03/2023
- Courts
- All ITAT, ITAT Mumbai
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Garware Finance Corporation Limited Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that based on suo motu disallowance, additional disallowance on travel expenses and foreign travel expenses unjustified.
Facts- The assessee company was engaged in the business of providing consultancy and financial services, trading in shares etc. For the year under consideration, the assessee filed return of income u/s 139(1) of the Income-tax Act, 1961 declaring total income at Rs.1,00,18,070/-. A search action u/s 132 of the Act was carried out in the case of the assessee on 09.03.2021 along with other cases on “N...
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