https://www.taxtmi.com/caselaws?id=217959 Foreign tour expenditure was not deductible as business expenditure because the assessee failed to produce cogent evidence showing that the travel was wholly for business purposes; bare assertions about expansion or contacting non-resident Indians were insufficient, and the disallowance was sustained. Depreciation on leasehold properties, including a lease for perpetuity, was also not allowable because the assessee did not establish the leasehold character and tenure by proper documents, such as the lease deed. The court treated house-property ownership concepts as not controlling the depreciation claim and required documentary proof of the underlying lease arrangement. en-us Thu, 17 May 2012 00:00:00 +0530 Wed, 31 Oct 2012 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217959 Foreign tour expenditure was not deductible as business expenditure because the assessee failed to produce cogent evidence showing that the travel was wholly for business purposes; bare assertions about expansion or contacting non-resident Indians were insufficient, and the disallowance was sustained. Depreciation on leasehold properties, including a lease for perpetuity, was also not allowable because the assessee did not establish the leasehold character and tenure by proper documents, such as the lease deed. The court treated house-property ownership concepts as not controlling the depreciation claim and required documentary proof of the underlying lease arrangement. Case-Laws Income Tax Thu, 17 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217959