https://www.taxtmi.com/caselaws?id=399125 The High Court allowed both Tax Case Appeals, ruling in favor of the assessee. The foreign travel expenditure and legal charges for acquisition were considered allowable revenue expenditures. The disallowance of expenditure under repairs and maintenance was overturned, confirming it as revenue expenditure. The Court emphasized commercial expediency and safeguarding the interests of the holding company in its decisions. en-us Fri, 25 Sep 2020 00:00:00 +0530 Sat, 03 Oct 2020 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399125 The High Court allowed both Tax Case Appeals, ruling in favor of the assessee. The foreign travel expenditure and legal charges for acquisition were considered allowable revenue expenditures. The disallowance of expenditure under repairs and maintenance was overturned, confirming it as revenue expenditure. The Court emphasized commercial expediency and safeguarding the interests of the holding company in its decisions. Case-Laws Income Tax Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399125