https://www.taxtmi.com/caselaws?id=29425 The High Court ruled in favor of the assessee, holding that the travelling expenses incurred for a foreign tour were revenue expenditure and not capital in nature. The expenses were deemed to benefit the business without acquiring any capital asset, aligning with the principle that if an expenditure assists in making or increasing profits, it is considered wholly and exclusively for the business's purpose. Additionally, the court upheld the decision against the revenue regarding the computation of capital for relief under section 84, following a previous precedent without requiring further analysis. en-us Tue, 14 Apr 1981 00:00:00 +0530 Fri, 12 Mar 2010 17:10:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29425 The High Court ruled in favor of the assessee, holding that the travelling expenses incurred for a foreign tour were revenue expenditure and not capital in nature. The expenses were deemed to benefit the business without acquiring any capital asset, aligning with the principle that if an expenditure assists in making or increasing profits, it is considered wholly and exclusively for the business's purpose. Additionally, the court upheld the decision against the revenue regarding the computation of capital for relief under section 84, following a previous precedent without requiring further analysis. Case-Laws Income Tax Tue, 14 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29425