https://www.taxtmi.com/caselaws?id=7761 Profits and gains earned in 1955 were treated as taxable for assessment year 1956-57 at the rates in the Indian Finance Act, 1956, and not under clause 23 of the 1 April 1938 agreement, because the issue had already been concluded by the Supreme Court in the assessee's own matter. Foreign tour expenses incurred by an engineer to inspect and purchase machinery for factory expansion were held to be capital expenditure, since the travel was integrally connected with acquiring new plant and machinery for a new asset; the deduction as revenue expenditure was therefore denied. en-us Tue, 04 Nov 1969 00:00:00 +0530 Thu, 19 Mar 2009 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7761 Profits and gains earned in 1955 were treated as taxable for assessment year 1956-57 at the rates in the Indian Finance Act, 1956, and not under clause 23 of the 1 April 1938 agreement, because the issue had already been concluded by the Supreme Court in the assessee's own matter. Foreign tour expenses incurred by an engineer to inspect and purchase machinery for factory expansion were held to be capital expenditure, since the travel was integrally connected with acquiring new plant and machinery for a new asset; the deduction as revenue expenditure was therefore denied. Case-Laws Income Tax Tue, 04 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7761