https://www.taxtmi.com/caselaws?id=18939 The High Court held that medical expenses reimbursed should not be treated as a perquisite for disallowance under section 40(c) of the Income-tax Act, 1961. The Court allowed travelling expenses for exploring business expansion as deductible revenue expenses, emphasizing the direct relation to the existing business. Additionally, the Court ruled in favor of the assessee regarding the addition of export subsidy and duty drawback, considering the consistent cash basis accounting treatment. The judgment was delivered by AJIT KUMAR SENGUPTA, with SHYAMAL KUMAR SEN concurring. en-us Mon, 15 Jun 1992 00:00:00 +0530 Tue, 03 Nov 2009 10:08:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18939 The High Court held that medical expenses reimbursed should not be treated as a perquisite for disallowance under section 40(c) of the Income-tax Act, 1961. The Court allowed travelling expenses for exploring business expansion as deductible revenue expenses, emphasizing the direct relation to the existing business. Additionally, the Court ruled in favor of the assessee regarding the addition of export subsidy and duty drawback, considering the consistent cash basis accounting treatment. The judgment was delivered by AJIT KUMAR SENGUPTA, with SHYAMAL KUMAR SEN concurring. Case-Laws Income Tax Mon, 15 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18939