https://www.taxtmi.com/caselaws?id=370604 The ITAT Mumbai dismissed the revenue's appeal and partly allowed the assessee's appeal for the assessment year 2011-12. The ITAT reduced the estimated addition for alleged bogus purchases to Rs. 3,83,388 and deleted the disallowance of foreign education expenses. The court found the purchases lacked substantiation but acknowledged the business purpose, reducing the addition. Regarding foreign education expenses, the court accepted the expenses as business-related under Section 37(1) based on the director's qualifications and program details. en-us Fri, 16 Nov 2018 00:00:00 +0530 Tue, 20 Nov 2018 07:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370604 The ITAT Mumbai dismissed the revenue's appeal and partly allowed the assessee's appeal for the assessment year 2011-12. The ITAT reduced the estimated addition for alleged bogus purchases to Rs. 3,83,388 and deleted the disallowance of foreign education expenses. The court found the purchases lacked substantiation but acknowledged the business purpose, reducing the addition. Regarding foreign education expenses, the court accepted the expenses as business-related under Section 37(1) based on the director's qualifications and program details. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370604