https://www.taxtmi.com/caselaws?id=442992 The court allowed the appeals, setting aside the impugned orders. The appellant-company was entitled to treat the traveling expenses of the director's wives and the fees paid to M/s McKinsey and Company Ltd for professional services as revenue expenditure for the relevant assessment year. The court concluded that the services provided by McKinsey related to the rearrangement of manufacturing and sales activities, falling under Section 37 of the Income Tax Act, and therefore, the expenditure was considered revenue expenditure. en-us Thu, 09 Feb 2023 00:00:00 +0530 Mon, 25 Sep 2023 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442992 The court allowed the appeals, setting aside the impugned orders. The appellant-company was entitled to treat the traveling expenses of the director's wives and the fees paid to M/s McKinsey and Company Ltd for professional services as revenue expenditure for the relevant assessment year. The court concluded that the services provided by McKinsey related to the rearrangement of manufacturing and sales activities, falling under Section 37 of the Income Tax Act, and therefore, the expenditure was considered revenue expenditure. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442992