2015 (11) TMI 1509

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.... : Mr.A.B.Koli, JCIT, D.R ORDER PER A.MOHAN ALANKAMONY , ACCOUNTANT MEMBER: This appeal is filed by the Assessee, aggrieved by the order of the Learned Commissioner of Income Tax(A)-6, Chennai dated ITA 2 No. 1792/Mds/2015 08.06.2015 in ITA No.238/CIT(A)-6/2014-15 passed under Sec.143(3) read with section Sec. 250 of the Act. 2. The Assessee has raised four elaborate grounds in its app....

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....nished evidence for the purchase of foreign exchange made by the Director of the company, however did not furnish any other evidence for the expenses incurred. Therefore, the Ld. Assessing Officer disallowed 25% of the expenses incurred by the assessee in foreign exchange. On appeal, the Ld. CIT (A) confirmed the order of the Ld. Assessing Officer by stating that the assessee had agreed for the di....

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....) has not doubted the genuineness of the expenditure. They have made the addition and sustained the same, only for the reason that vouchers for each of the expenditure incurred were not furnished before them, though evidences were produced for purchase of foreign exchange. Considering the facts and circumstance of the case, the nature of the business of the assessee and the income generated by the....