Tribunal held that the disallowance of expenses incurred on education expenses of grandson of director was set aside as the revenue authorities failed to verify the evidence filed by the assessee in support that the grandson of director has contributed to functioning of business. Matter is remanded back for disposal afresh. (AY. 2013-14)
Bansal Alloys & Metals (P.) Ltd. v. ACIT (2019) 174 ITD 62 (Chd.)(Trib.)
S. 37(1) : Business expenditure-Education expenses of grandson of director who has contributed to functioning of business-Matter is remanded back for disposal afresh.