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TMI Blog2015 (9) TMI 848X X X X Extracts X X X X X X X X Extracts X X X X ..... JUDGMENT ( The Judgment of the Court was delivered by V. Ramasubramanian, J. ) These two appeals are by the Revenue, raising the following substantial questions of law: "1. Whether on the facts and circumstances of the case, the Tribunal was right in deleting the disallowance made on account of business promotion expenses when most of the items of expenses were personal expenditure spent by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted for scrutiny through CASS and a notice under Section 143(2) was issued. 4. Subsequently, a notice under Section 142(1) was issued on 05.11.2009 calling for details in proof of the claim of expenditure made under depreciation. The assessee appeared and produced the details along with books of accounts. Since the Department was not satisfied, yet another notice was issued and a substantial port ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015 by the Income Tax Appellate Tribunal. By the said order, the Tribunal allowed the appeal of the assessee and dismissed the appeal of the Revenue. Hence the Revenue is on appeal. 7. On the first question of law, which relates to business promotion expenses, the Tribunal has recorded a factual finding that most of the items were found from the books of accounts not to be personal expenditure, b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able nature of the expenditure was on the basis that the net profit amounted to only 0.13% of a massive turnover of about Rs. 103 crores. On such a premise, the conclusion that the expenses incurred were excessive or unreasonable could not have been arrived at. This is why, the Tribunal pointed out there are no materials to come to the conclusion that any particular item of expenditure was expensi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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