https://www.taxtmi.com/caselaws?id=248490 The tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2007-08, confirming the disallowance of expenditure on foreign travel due to the assessee's failure to provide primary evidences justifying the business purpose. The burden of proof rested on the assessee, who failed to substantiate the purpose of the expenditure, leading to the penalty confirmation at 100% of the tax sought to be evaded. Legal precedents emphasized the necessity for a plausible explanation supported by evidence to avoid penalties, resulting in the dismissal of the appeal. en-us Wed, 28 May 2014 00:00:00 +0530 Sat, 14 Jun 2014 11:40:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248490 The tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2007-08, confirming the disallowance of expenditure on foreign travel due to the assessee's failure to provide primary evidences justifying the business purpose. The burden of proof rested on the assessee, who failed to substantiate the purpose of the expenditure, leading to the penalty confirmation at 100% of the tax sought to be evaded. Legal precedents emphasized the necessity for a plausible explanation supported by evidence to avoid penalties, resulting in the dismissal of the appeal. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248490