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| The Tax Publishers2020 TaxPub(DT) 4463 (Ind-Trib) INCOME TAX ACT, 1961
Section 69C
Assessee had not explained the soure of expenses incurred in cash on foreign tour which were not covered by the travel plan. However, AO had also not given basis of estimation of cost on foreign tour. Accordingly, addition made by AO was on higher side and therefore, same was restricted on the basis of estimates given by well recognized travel agents.
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Income from undisclosed sources - Addition under section 69C - Unexplained foreign travel expenses - AO made addition on the basis of estimates
Assessee claimed to have incurred expenses on foreign tour. AO for want of supportive details treated expenses as unexplained and made addition under section 69C on the basis of estimated cost on foreign tour. Held: Assessee had not explained the soure of expenses incurred in cash on foreign tour which were not covered by the travel plan. However, AO had also not given basis of estimation of cost on foreign tour. Accordingly, addition made by AO was on higher side and therefore, same was restricted on the basis of estimates given by well recognized travel agents.
REFERRED :
FAVOUR : Partly in assessee's favour.
A.Y. : 2014-15
INCOME TAX ACT, 1961
Section 69
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