https://www.taxtmi.com/caselaws?id=119134 The Tribunal dismissed both appeals of the assessee, upholding the disallowance of training expenses under section 37(1) of the Income-tax Act, 1961, for the training of Shri Vinay Kumar Mohota, son of the Joint Managing Director. The Tribunal also upheld the disallowance of expenses incurred for increasing the authorized capital of the company for the assessment year 1990-91, following the precedent set in Punjab State Industrial Development Corpn. Ltd. v. CIT. en-us Tue, 11 Jan 2005 00:00:00 +0530 Mon, 09 Jul 2012 12:11:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119134 The Tribunal dismissed both appeals of the assessee, upholding the disallowance of training expenses under section 37(1) of the Income-tax Act, 1961, for the training of Shri Vinay Kumar Mohota, son of the Joint Managing Director. The Tribunal also upheld the disallowance of expenses incurred for increasing the authorized capital of the company for the assessment year 1990-91, following the precedent set in Punjab State Industrial Development Corpn. Ltd. v. CIT. Case-Laws Income Tax Tue, 11 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119134