2018 (12) TMI 37

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....e Assessee, challenging the judgment of the Income Tax Appellate Tribunal (the Tribunal). Following three separate questions are presented for our consideration: "(a) Whether on the facts and in the circumstance of the case and in law, the Tribunal ought to have allowed assessee's claim of deduction u/s. 37 in respect of amounts paid to GVF, considering that these amounts were paid on accou....

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....ailed to consider?" 2. The first question pertains to the Assessee's claim for deduction under Section 37 of the Income Tax Act, 1961 (the Act) of Rs. 50 lakhs paid by the Assessee to one Global Vipasana Foundation (GVF). The Assessee under an agreement dated 8th October, 2008, paid sum of Rs. 60 lakhs to the GVF, out of which, sum of Rs. 50 lakhs was stated to have been paid for the purpos....

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....of its employees i.e. for business purpose. There is nothing on record which may speak about the nexus of the business of the assessee with the GVF. Moreover, on appraisal of the assessment order, it reveals that the AO has rightly declined the claim of assessee on seeing the case of the assessee from different angles. In fact the actual claim of the assessee was to the tune of rupees sixty lac....

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....this stage. Accordingly, we uphold his order on this count and dismiss ground No.1 of the appeal of the assessee." From the material on record, it can be seen that two Revenue authorities and the Tribunal, concurrently came to the conclusion that, Assessee failed to establish the connection between the expenditure and its business activities. We further find that, there is nothing on record to ....