https://www.taxtmi.com/caselaws?id=22529 The High Court upheld the Appellate Tribunal's decision, allowing a company to deduct business promotion expenses incurred for a dinner party as it was held for discussing business matters with foreign buyers and jute mill experts. The Court clarified that such expenses, even if involving social elements, should not be considered entertainment expenditure under the Income-tax Act, 1961. The expenditure was deemed admissible under section 37(1) for business promotion purposes. The Court ruled in favor of the assessee, denying the Revenue's claim. en-us Mon, 15 May 1989 00:00:00 +0530 Fri, 11 Dec 2009 10:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22529 The High Court upheld the Appellate Tribunal's decision, allowing a company to deduct business promotion expenses incurred for a dinner party as it was held for discussing business matters with foreign buyers and jute mill experts. The Court clarified that such expenses, even if involving social elements, should not be considered entertainment expenditure under the Income-tax Act, 1961. The expenditure was deemed admissible under section 37(1) for business promotion purposes. The Court ruled in favor of the assessee, denying the Revenue's claim. Case-Laws Income Tax Mon, 15 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22529