https://www.taxtmi.com/caselaws?id=357864 The Tribunal partially allowed the appeal, ruling in favor of the assessee regarding the permit fee issue, considering it a revenue expenditure as it was incurred after the business was established. However, the disallowance of expenses for foreign travel due to personal elements was upheld, emphasizing the need to prove business-related expenses for deduction purposes. The judgment highlighted the distinction between capital and revenue expenditures, affirming the importance of substantiating expenses for tax purposes. en-us Thu, 22 Mar 2018 00:00:00 +0530 Sat, 31 Mar 2018 07:19:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357864 The Tribunal partially allowed the appeal, ruling in favor of the assessee regarding the permit fee issue, considering it a revenue expenditure as it was incurred after the business was established. However, the disallowance of expenses for foreign travel due to personal elements was upheld, emphasizing the need to prove business-related expenses for deduction purposes. The judgment highlighted the distinction between capital and revenue expenditures, affirming the importance of substantiating expenses for tax purposes. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357864