https://www.taxtmi.com/caselaws?id=376118 The High Court upheld the remuneration paid to trustees by a Trust engaged in garment manufacturing and exporting, emphasizing that the reasonableness of expenditure should be judged from a businessman's perspective. The Court ruled in favor of the assessee, citing that the Revenue cannot determine what is reasonable. Additionally, the Court allowed foreign travel expenses for business purposes incurred by the Managing Trustee, stating that conducting business under a tourist visa is permissible. The Court affirmed the decisions of the lower authorities on both issues, ultimately ruling in favor of the assessee on the reasonableness of remuneration and the allowability of foreign travel expenses. en-us Tue, 11 Dec 2018 00:00:00 +0530 Fri, 27 Dec 2019 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376118 The High Court upheld the remuneration paid to trustees by a Trust engaged in garment manufacturing and exporting, emphasizing that the reasonableness of expenditure should be judged from a businessman's perspective. The Court ruled in favor of the assessee, citing that the Revenue cannot determine what is reasonable. Additionally, the Court allowed foreign travel expenses for business purposes incurred by the Managing Trustee, stating that conducting business under a tourist visa is permissible. The Court affirmed the decisions of the lower authorities on both issues, ultimately ruling in favor of the assessee on the reasonableness of remuneration and the allowability of foreign travel expenses. Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376118