Foreign travel expense for business cannot be disallowed merely because no business could be transacted

Issuance of show cause notice is not a condition precedent before charging interest under Section 217 of the Act. Patna High Court rightly took the view that issuance of show cause notice is not a condition precedent before charging interest under Section 217 of the Act. The Court took note of the fact that no doubt, the interest charged could be waived on certain grounds and one of these being the assessee showing sufficient cause of purpose. However, the High Court still took the view that show cause notice was not necessary on the ground that this issue is no longer res integra in view of t...