https://www.taxtmi.com/caselaws?id=20532 The High Court held that the Income-tax Appellate Tribunal erred in disallowing inaugural expenses as business expenditure. The Court directed a reexamination of the expenses, allowing deductions for non-entertainment expenses related to the inaugural function. The judgment favored the assessee, clarifying the treatment of such expenses under the Income-tax Act and emphasizing the distinction between business-related expenses and entertainment expenditure. en-us Wed, 31 Mar 1993 00:00:00 +0530 Sat, 14 Nov 2009 15:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20532 The High Court held that the Income-tax Appellate Tribunal erred in disallowing inaugural expenses as business expenditure. The Court directed a reexamination of the expenses, allowing deductions for non-entertainment expenses related to the inaugural function. The judgment favored the assessee, clarifying the treatment of such expenses under the Income-tax Act and emphasizing the distinction between business-related expenses and entertainment expenditure. Case-Laws Income Tax Wed, 31 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20532