https://www.taxtmi.com/caselaws?id=350503 The Tribunal upheld the CIT(A)'s decision to allow the advances written off as a trading loss, citing that the advances were made in the normal course of business and had taken necessary steps for recovery. The Tribunal also directed the AO to delete the disallowance of foreign travel expenses, stating that the expenses were incurred wholly and exclusively for the business purpose of the assessee. As a result, the assessee's appeal was allowed, and the revenue's appeal was dismissed. en-us Wed, 01 Nov 2017 00:00:00 +0530 Tue, 07 Nov 2017 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350503 The Tribunal upheld the CIT(A)'s decision to allow the advances written off as a trading loss, citing that the advances were made in the normal course of business and had taken necessary steps for recovery. The Tribunal also directed the AO to delete the disallowance of foreign travel expenses, stating that the expenses were incurred wholly and exclusively for the business purpose of the assessee. As a result, the assessee's appeal was allowed, and the revenue's appeal was dismissed. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350503