Petty expenses by Companies cannot be disallowed on adhoc basis

YKM Holdings Pvt. Ltd. Vs DCIT (ITAT Delhi)

We find that, out of total expenses of Rs.10,96,510/- on the travelling and conveyance, a sum of Rs.7,99,769/- was incurred on booking of tickets and remaining for boarding and lodging, which is evident from the details given in the paper book at page 2. For booking of the tickets the relevant evidences have also been filed which were there before the Assessing Officer and the ld. CIT (Appeals). These expenses were claimed for specific business purposes wherein the assessee had made investment of Rs.27.21 cror

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