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DELHI HIGH COURT
MANMOHAN, MANMEET PRITAM SINGH ARORA
Principal Commissioner of Income Tax (Central) – Appellant
Versus
Utech Developers Ltd. – Respondent
| Table of Content |
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| 1. disallowance of expenses must be justified. (Para 2 , 3) |
| 2. concurrent findings support business legitimacy. (Para 4 , 5) |
| 3. appellate re-appraisal of facts is limited. (Para 6) |
| 4. no substantial legal questions warranting appeal. (Para 7) |
JUDGMENT
Manmohan, J. (Oral)--Present Income Tax Appeal has been filed challenging the Order dated 30th June, 2021 passed by the Income Tax Appellate Tribunal (`ITAT') in ITA No. 3736/Del/2016 for the Assessment Year 2009-10.
2. Learned counsel for the Appellant states that the ITAT has erred in deleting the additions made by the Assessing Officer on account of disallowance of travel expenses without considering that the assessee had failed to explain the purpose of the journey and that it was `wholly and exclusively' for business.
3. He also states that the ITAT has erred in deleting the additions made by the Assessing officer on account of disallowance of loan interest expenses, without considering that there was no nexus between the utilization of borrowed funds and business activity of the assessee. In support of his submission, he relies on Section 36(1)(iii) of the Income Tax Act, 1961 (`the Act').
4. However, a perusal
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