https://www.taxtmi.com/caselaws?id=327551 The ITAT upheld the disallowance of foreign traveling expenses for the business associate, emphasizing the lack of evidence linking the spouse to business activities. The ITAT directed the AO to delete the addition under section 41(1) of the IT Act, as the outstanding balance did not qualify as ceased liabilities. The issue of penal interests became irrelevant following the decisions on the previous grounds, leading to a partial allowance of the appeal and the deletion of the trading liability addition. en-us Wed, 06 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 08:59:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327551 The ITAT upheld the disallowance of foreign traveling expenses for the business associate, emphasizing the lack of evidence linking the spouse to business activities. The ITAT directed the AO to delete the addition under section 41(1) of the IT Act, as the outstanding balance did not qualify as ceased liabilities. The issue of penal interests became irrelevant following the decisions on the previous grounds, leading to a partial allowance of the appeal and the deletion of the trading liability addition. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327551