2020 (12) TMI 438

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ual carrying on the business of quarrying granite boulders and manufacturing blue metal since the year 1988. For the Assessment Year 2014 - 2015, the Assessee has claimed business expenditure amounting to Rs. 19,98,529/- which relates to the course fee paid to INSEAD and also Training and Coaching fee paid to Smmart Transganization (P) Limited amounting to Rs. 16,85,400/-. In the Assessment Order, the Assessing Officer has noted that the Assessee is on the verge of closure of the business due to Government imposing ban on mining and as the license granted by the Government to the Assessee has expired and therefore the expenditure incurred by the Assessee cannot be allowed. He further stated that there is a decrease in the production and tur....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ubmitted that the training undergone by the Assessee and the business carried on by the Assessee has no nexus. Therefore, the expenditure incurred by the Assessee cannot be stated for the purpose of business and the same cannot be allowed. 6. We have heard both the sides, perused the materials available on record and gone through the orders of the authorities below. 7. It is a fact that the Assessee is carrying on the business of quarrying granite boulders and manufacturing blue metal. He had admitted a total income of Rs. 38,93,150/-. As per the assessment order itself, the turnover of the Assessee being Rs. 29,54,97,909 had fallen to Rs. 4,95,00,138/-. Undoubtedly, the Assessee is carrying on the business. During the years under con....