https://www.taxtmi.com/caselaws?id=328372 The Tribunal partly allowed the appeal, upholding the disallowance of Directors' foreign travel expenditure due to insufficient evidence supporting business purposes. However, the Tribunal directed the deletion of disallowance of finance charges under section 40(a)(ia) as the payments were made within the same financial year, following the precedent set in the Merilyn Shipping case. en-us Fri, 06 May 2016 00:00:00 +0530 Thu, 02 Jun 2016 15:35:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328372 The Tribunal partly allowed the appeal, upholding the disallowance of Directors' foreign travel expenditure due to insufficient evidence supporting business purposes. However, the Tribunal directed the deletion of disallowance of finance charges under section 40(a)(ia) as the payments were made within the same financial year, following the precedent set in the Merilyn Shipping case. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328372