https://www.taxtmi.com/caselaws?id=25438 The High Court allowed the interest paid on borrowed money for constructing a cinema building and the travelling expenses incurred for procuring a loan for the construction as business expenditures. The Court determined that the interest and travelling expenses were incurred for expanding the existing business, thus qualifying as business expenses. The decision affirmed the Tribunal's findings and concluded that both expenses were rightly treated as business-related, resulting in a favorable outcome for the assessee. en-us Thu, 12 Feb 1987 00:00:00 +0530 Thu, 28 Jan 2010 15:55:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25438 The High Court allowed the interest paid on borrowed money for constructing a cinema building and the travelling expenses incurred for procuring a loan for the construction as business expenditures. The Court determined that the interest and travelling expenses were incurred for expanding the existing business, thus qualifying as business expenses. The decision affirmed the Tribunal's findings and concluded that both expenses were rightly treated as business-related, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Thu, 12 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25438