https://www.taxtmi.com/caselaws?id=20259 The Income-tax Appellate Tribunal determined that the expenditure incurred for a foreign tour by the assessee-company's general manager was capital expenditure. The tour was for a new product collaboration and market expansion, not to enhance existing business activities. The Tribunal upheld the expenditure as capital, considering it was for a new project and not for the improvement of current operations. The court affirmed the Tribunal's decision, concluding that the expenditure was indeed capital in nature. en-us Tue, 22 Jun 1993 00:00:00 +0530 Thu, 12 Nov 2009 17:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20259 The Income-tax Appellate Tribunal determined that the expenditure incurred for a foreign tour by the assessee-company's general manager was capital expenditure. The tour was for a new product collaboration and market expansion, not to enhance existing business activities. The Tribunal upheld the expenditure as capital, considering it was for a new project and not for the improvement of current operations. The court affirmed the Tribunal's decision, concluding that the expenditure was indeed capital in nature. Case-Laws Income Tax Tue, 22 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20259