https://www.taxtmi.com/caselaws?id=407637 The Tribunal allowed the appeal of the assessee, overturning the disallowance of Rs. 23,69,443 incurred towards fees paid to Babson College, USA, for a management trainee. The Tribunal found that the expenditure should be treated as business expenditure based on the service agreement between the company and the trainee, where the trainee committed to serving the company for a minimum period after completing education. The Tribunal emphasized that the expenditure was for the purpose of business activities, following legal precedent that supports treating training and higher education expenses as business expenditure if the trainee contributes to the company's business activities. en-us Wed, 05 May 2021 00:00:00 +0530 Mon, 17 May 2021 08:35:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407637 The Tribunal allowed the appeal of the assessee, overturning the disallowance of Rs. 23,69,443 incurred towards fees paid to Babson College, USA, for a management trainee. The Tribunal found that the expenditure should be treated as business expenditure based on the service agreement between the company and the trainee, where the trainee committed to serving the company for a minimum period after completing education. The Tribunal emphasized that the expenditure was for the purpose of business activities, following legal precedent that supports treating training and higher education expenses as business expenditure if the trainee contributes to the company's business activities. Case-Laws Income Tax Wed, 05 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407637