https://www.taxtmi.com/caselaws?id=25687 The court ruled in favor of the Revenue and against the assessee in a case involving the deductibility of expenses on foreign guests and visitors under section 37(1) of the Income-tax Act. The court held that such expenses fell within the ambit of "entertainment expenditure" and were not deductible. Additionally, the court upheld the disallowance of salary and interest paid to partners for assessment years 1970-71 and 1971-72 under section 40(b). The decision was consistent with previous rulings and resulted in costs and hearing fees imposed on the assessee for each year. en-us Sat, 21 Mar 1987 00:00:00 +0530 Sat, 30 Jan 2010 11:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25687 The court ruled in favor of the Revenue and against the assessee in a case involving the deductibility of expenses on foreign guests and visitors under section 37(1) of the Income-tax Act. The court held that such expenses fell within the ambit of "entertainment expenditure" and were not deductible. Additionally, the court upheld the disallowance of salary and interest paid to partners for assessment years 1970-71 and 1971-72 under section 40(b). The decision was consistent with previous rulings and resulted in costs and hearing fees imposed on the assessee for each year. Case-Laws Income Tax Sat, 21 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25687