https://www.taxtmi.com/caselaws?id=26259 The High Court upheld the Tribunal's decision in a tax case involving disallowance of expenses claimed as business expenditure on foreign tours. The Tribunal found the expenses were allowable based on commercial expediency and the genuine belief of the assessee. The Court affirmed the Tribunal's ruling that no question of law arose. Additionally, the Court dismissed the reference application regarding the imposition of a penalty under section 271(1)(c), supporting the Tribunal's decision that the penalty was not justified as the assessee had not deliberately furnished inaccurate particulars of income. en-us Thu, 21 Nov 1985 00:00:00 +0530 Wed, 03 Feb 2010 17:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26259 The High Court upheld the Tribunal's decision in a tax case involving disallowance of expenses claimed as business expenditure on foreign tours. The Tribunal found the expenses were allowable based on commercial expediency and the genuine belief of the assessee. The Court affirmed the Tribunal's ruling that no question of law arose. Additionally, the Court dismissed the reference application regarding the imposition of a penalty under section 271(1)(c), supporting the Tribunal's decision that the penalty was not justified as the assessee had not deliberately furnished inaccurate particulars of income. Case-Laws Income Tax Thu, 21 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26259