https://www.taxtmi.com/caselaws?id=27085 The High Court ruled in favor of the assessee on most issues, except for the eligibility of profits from the sale of imported dry fruits for relief under the Income-tax Act, where the ruling favored the Revenue. The court held that profits from the sale of dry fruits were not directly linked to the priority industry, thus not qualifying for relief under section 80-I. Additionally, the court deemed fees paid to foreign collaborators for technical information as allowable revenue expenditure. The disputed entertainment expenditure was considered business-related, not entertainment expenditure, benefiting the assessee. en-us Tue, 28 Aug 1984 00:00:00 +0530 Wed, 10 Feb 2010 16:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27085 The High Court ruled in favor of the assessee on most issues, except for the eligibility of profits from the sale of imported dry fruits for relief under the Income-tax Act, where the ruling favored the Revenue. The court held that profits from the sale of dry fruits were not directly linked to the priority industry, thus not qualifying for relief under section 80-I. Additionally, the court deemed fees paid to foreign collaborators for technical information as allowable revenue expenditure. The disputed entertainment expenditure was considered business-related, not entertainment expenditure, benefiting the assessee. Case-Laws Income Tax Tue, 28 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27085