https://www.taxtmi.com/caselaws?id=17696 The High Court upheld the Tribunal's decision to allow the expenditure incurred for the education of a partner in the U.S.A. as business expenditure for assessment years 1983-84 to 1985-86. The Court found the expenditure to be wholly and exclusively for business purposes, aligning with section 37(1) of the Income-tax Act, 1961. It concluded that the expenditure was not capital expenditure or personal expenses but rather revenue expenditure, as it benefited the firm by enhancing business operations. The Court dismissed the cases without costs, determining that the issues raised were not referable questions of law. en-us Tue, 27 Aug 1996 00:00:00 +0530 Thu, 24 Sep 2009 12:24:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17696 The High Court upheld the Tribunal's decision to allow the expenditure incurred for the education of a partner in the U.S.A. as business expenditure for assessment years 1983-84 to 1985-86. The Court found the expenditure to be wholly and exclusively for business purposes, aligning with section 37(1) of the Income-tax Act, 1961. It concluded that the expenditure was not capital expenditure or personal expenses but rather revenue expenditure, as it benefited the firm by enhancing business operations. The Court dismissed the cases without costs, determining that the issues raised were not referable questions of law. Case-Laws Income Tax Tue, 27 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17696