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TMI Blog2019 (2) TMI 1400X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is no justification for making any trading addition. Accordingly entire trading addition so made by the Assessing Officer is directed to be deleted. Disallowance of foreign travelling of expenditure - HELD THAT:- As found that actual foreign travelling was at ₹ 115,000/- incurred by B.P. Singh on tour to Jeddah on behalf of the assessee. Rest of the expenses ₹ 3,72,881/- were payment to one of the staff Mr. Puneetsingh for inland travelling which inadvertently displayed as a foreign travelling in the income tax return. All expenses were paid to him by cheques as per his submission of bank statement for online payment to IRCTC and Airlines and Hotels. Since the assessee was having export sales to Jeddah and Bahrain, travel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 28.02.2018 are bad in law and on facts of the case, for want of jurisdiction and various other reasons and hence the same kindly be deleted. 2. ₹ 1,20,270/-: The ld. CIT(A) erred in law as well as on the facts of the case in confirming addition of ₹ 1,20,270/- as a trading additions towards disallowances of expenses without knowing the substantiation of transactions, is contrary to the provisions of law and facts of the case. Hence, the same kindly be deleted in full. 3. ₹ 4,87,881/- The ld. CIT(A) erred in law as well as the facts of the case in confirming addition of ₹ 4,87,881/- for Travelling Expenses without knowing the substantiation of transactions and ignoring evidences, is contrary to the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A.Y. 2013-14) to 18.2% in A.Y. 2014-15 is due to increasing sales by 19.21%. It is normal phenomenon of any business industry, higher the sale lower the margin and vice versa. I found that comparisons of Gross profit (GP): The Comparison of G.P. and N.P for the last three Assessment years are as under: ( Rs. In lacs) 2012-13 2013-14 2014-15 Gross Turn-over 467.48 434.19 517.63 Gross Profit 47.76 86.38 96.37 Gross profit(%) 10.21% 19.89% 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the expenses ₹ 3,72,881/- were payment to one of the staff Mr. Puneetsingh for inland travelling which inadvertently displayed as a foreign travelling in the income tax return. All expenses were paid to him by cheques as per his submission of bank statement for online payment to IRCTC and Airlines and Hotels. Since the assessee was having export sales to Jeddah and Bahrain, travelling to this country was for the purpose of business. Under these facts and circumstances of the case, I do not find any merit for disallowance foreign travelling expenditure, having been incurred by the assessee for the purpose of this business. Assessing Officer is directed to delete the same. 8. The last grievance of the assessee relates to confirmation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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