https://www.taxtmi.com/caselaws?id=209318 Business expenditure on foreign exhibitions, seminars and conferences may be allowable under section 37 where it is genuine, commercially expedient, and incurred wholly and exclusively for business; the absence of immediate export sales does not by itself justify disallowance when a business nexus is shown, and the claim was accepted. For depreciation, video conferencing equipment and connected devices were considered against the higher computer rate, but the functional nature of each component and their inter-relationship required factual verification; the matter was remitted for fresh examination. en-us Thu, 25 Feb 2010 00:00:00 +0530 Wed, 24 Jul 2013 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209318 Business expenditure on foreign exhibitions, seminars and conferences may be allowable under section 37 where it is genuine, commercially expedient, and incurred wholly and exclusively for business; the absence of immediate export sales does not by itself justify disallowance when a business nexus is shown, and the claim was accepted. For depreciation, video conferencing equipment and connected devices were considered against the higher computer rate, but the functional nature of each component and their inter-relationship required factual verification; the matter was remitted for fresh examination. Case-Laws Income Tax Thu, 25 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209318