2014 (4) TMI 965

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....g foreign travel expenses incurred by the Appellant. 1:2 The Appellant submits that the foreign travel expenses have been incurred wholly and exclusively for the purposes of its business and are allowable as a deduction while computing its total income for the year and the disallowance made by the Assessing Officer in this regard is misconceived, erroneous, incorrect and not in accordance with law and the Commissioner of Income-tax (Appeals) ought to have held as such. 1:3 The Appellant submits that the Assessing Officer be directed to delete the disallowance so made by him and to re-compute its total income accordingly. 2:0 Re.: General: 2:1 The Appellant craves leave to add, alter, amend, substitute and/or otherwise modify in ....

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....urney to U.S.A. in the month of March 2009, that the expenses incurred on visit of wife of the Chairman could not be considered an expense incurred wholly and exclusively for the purpose of business, that wife of the Chairman was a foreign citizen and was having numbers of family members and relatives in the U.S.A. Finally, he disallowed the expenditure amounting to Rs. 27,97,007/- incurred by the assessee-company in relation to foreign travels. 4.Assessee preferred an appeal before the First Appellate Authority (FAA). Before him it was contended that the purpose of visit to the foreign countries was to supply the products and explain launch new products and to understand and know the market trend in the country of export, that company d....

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....th Rs. 555 lakhs were generated from such visits, that the travel expenses of Mrs. Vasudeva were contractual as per the contract approved by the shareholder of the company and by the central government. A copy of the agreement was furnished in support of the contention by the assessee. After considering the submission of the assessee and the assessment order, FAA held that there was no merit in the arguments of the assessee, that the assessee had not sustained its claim in respect of foreign travel expenses, that no new documentary evidences or any kind of substantial base had been produced before him, that AO had given ample opportunity to the assessee for submission of valid documentary evidences, that assessee did not adduce any evidence....