https://www.taxtmi.com/caselaws?id=20093 The High Court ruled in favor of the assessee, determining that the expenditure on foreign tours undertaken for business purposes, at the request of the company to build relationships for negotiations with foreign corporations, was not to be included as income under section 2(24)(iv) of the Income-tax Act, 1961. The court found that as the assessee did not personally benefit or incur any obligation from the tours, the expenditure was not considered as income. The reference was disposed of with no order as to costs. en-us Wed, 14 Jul 1993 00:00:00 +0530 Wed, 11 Nov 2009 16:22:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20093 The High Court ruled in favor of the assessee, determining that the expenditure on foreign tours undertaken for business purposes, at the request of the company to build relationships for negotiations with foreign corporations, was not to be included as income under section 2(24)(iv) of the Income-tax Act, 1961. The court found that as the assessee did not personally benefit or incur any obligation from the tours, the expenditure was not considered as income. The reference was disposed of with no order as to costs. Case-Laws Income Tax Wed, 14 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20093