https://www.taxtmi.com/caselaws?id=450753 ITAT Delhi allowed the assessee's appeal against 30% ad-hoc disallowance of travelling expenses including car charges and foreign/domestic travel costs. The tribunal held that lower authorities failed to consider this was the first year of business establishment where higher travelling expenses are justified for setting up operations. The assessee provided detailed submissions with invoices and documentary evidence supporting business purposes. Citing SC precedent in Delhi Safe Deposit Co. Ltd., ITAT ruled that without disputing genuineness of vouchers or contrary evidence, the ad-hoc disallowance was erroneous as expenses were incurred for commercial expediency and business purposes. en-us Fri, 08 Mar 2024 00:00:00 +0530 Tue, 12 Mar 2024 08:56:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450753 ITAT Delhi allowed the assessee's appeal against 30% ad-hoc disallowance of travelling expenses including car charges and foreign/domestic travel costs. The tribunal held that lower authorities failed to consider this was the first year of business establishment where higher travelling expenses are justified for setting up operations. The assessee provided detailed submissions with invoices and documentary evidence supporting business purposes. Citing SC precedent in Delhi Safe Deposit Co. Ltd., ITAT ruled that without disputing genuineness of vouchers or contrary evidence, the ad-hoc disallowance was erroneous as expenses were incurred for commercial expediency and business purposes. Case-Laws Income Tax Fri, 08 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450753