2021 (1) TMI 212

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..... Makwana, Sr. DR ORDER PER Ms. MADHUMITA ROY - JM The instant appeal filed by the assessee is directed against the order dated 24.10.2017 passed by the Commissioner of Income Tax (Appeals) -8, Ahmedabad arising out of the order dated 25.1.2016 passed by the DCIT, Circle-4(2)(1), Ahmedabad under Section 143(3) of the Income Tax Act, 1961 (hereinafter referred as to 'the Act') for Assessment Y....

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....acturing of dye intermediate and chemicals. In Dubai they attended the Beauty World expo. In U.S.A. they attended a meeting and discussed business proposal at trade fare. In Thailand they attended meeting of YPO Chapter Retreat. All the relevant documents in support of such tours indicating the business purposes of the assessee company were duly submitted before the authorities below as it appears....

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....e 67 of the Paper Book filed before us. The investment and/or advances of its subsidiary companies had been considered for business purposes; the commercial expediency involved in the said transactions were also observed by the Ld. CIT(A). The Ld. AR drew our attention to the order passed by the Ld. Commissioner Appeal for A.Y. 2012-13 appearing at Page 80 and 81 of the Paper Book filed before us.....