https://www.taxtmi.com/caselaws?id=19112 The court held that for the purpose of Section 80J relief, the entire liabilities should not be deducted, and the entire gross value of the assets should be considered as capital. The payment of Rs. 6 lakhs was deemed to be advance tax. While expenses under Section 35B were eligible for deduction, the court emphasized the need for proper evidence. The disallowance of travel expenditure based on a 24-hour day method was deemed incorrect, and the full disallowance amount should be deleted in accordance with Rule 6D. en-us Mon, 31 Oct 1994 00:00:00 +0530 Wed, 04 Nov 2009 11:34:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19112 The court held that for the purpose of Section 80J relief, the entire liabilities should not be deducted, and the entire gross value of the assets should be considered as capital. The payment of Rs. 6 lakhs was deemed to be advance tax. While expenses under Section 35B were eligible for deduction, the court emphasized the need for proper evidence. The disallowance of travel expenditure based on a 24-hour day method was deemed incorrect, and the full disallowance amount should be deleted in accordance with Rule 6D. Case-Laws Income Tax Mon, 31 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19112