https://www.taxtmi.com/caselaws?id=762966 The ITAT Chandigarh upheld CIT(A)'s decision allowing foreign travel expenses under section 37(1), ruling that AO's disallowance violated the unilateral APA entered with CBDT. The assessee had complied with APA terms and demonstrated expense recovery from associated enterprises with corresponding revenue reporting. However, the tribunal dismissed cross-objections regarding interest under section 234C as non-maintainable due to lack of grounds before CIT(A). Interest under section 234B was upheld on differential between advance tax paid and assessed tax, despite the APA settlement, as the assessee remained liable for shortfall between advance tax and total assessed tax liability. en-us Fri, 07 Jun 2024 00:00:00 +0530 Mon, 09 Dec 2024 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762966 The ITAT Chandigarh upheld CIT(A)'s decision allowing foreign travel expenses under section 37(1), ruling that AO's disallowance violated the unilateral APA entered with CBDT. The assessee had complied with APA terms and demonstrated expense recovery from associated enterprises with corresponding revenue reporting. However, the tribunal dismissed cross-objections regarding interest under section 234C as non-maintainable due to lack of grounds before CIT(A). Interest under section 234B was upheld on differential between advance tax paid and assessed tax, despite the APA settlement, as the assessee remained liable for shortfall between advance tax and total assessed tax liability. Case-Laws Income Tax Fri, 07 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762966