2002 (11) TMI 15

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.... by G. SIVARAJAN J.-An assessee under the Income-tax Act is the appellant. It is a company incorporated with the main object of conducting chitties and kuries and lending money on interest. In the assessment of the appellant for the year 1994-95, the Assessing Officer disallowed two sums of Rs. 4,42,972 and Rs. 1,21,875 claimed by them towards director's travelling allowance and kuri canvassing....

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....disallowed Rs. 1,21,875. However, in appeal, the first appellate authority sustained the disallowance only to the extent of Rs. 21,875. The Tribunal upheld the order of the first appellate authority. We have heard Shri P. Balachandran, learned counsel appearing for the appellant, and also Shri P.K.R. Menon, senior standing counsel for the Revenue. Regarding the disallowance of travelling expens....

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....f fact entered by the Tribunal in this regard. Similarly, regarding the disallowance of kuri canvassing commission to the extent of Rs. 21,875, the Tribunal gave reasons for sustaining the same. The said disallowance relates to the amounts alleged to have been paid to Shri Rajesh who is the son of one of the directors of the appellant-company. The Tribunal noted that though the Assessing Officer w....