https://www.taxtmi.com/caselaws?id=35634 The court upheld the disallowance of 2/3rds of foreign tour expenses as capital expenditure, emphasizing the lack of evidence on the actual purpose of the expenses. However, the court reversed the decision on the disallowance of Rs. 16,029 paid to M/s. G. Perry & Sons Ltd., holding that the expenditure was revenue in nature for acquiring technical knowledge and services, not a capital asset. The ITO's decision on the foreign tour expenses was justified, while the treatment of the payment to M/s. G. Perry & Sons Ltd. as capital expenditure was not upheld. en-us Tue, 31 Mar 1981 00:00:00 +0530 Mon, 15 Mar 2010 16:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35634 The court upheld the disallowance of 2/3rds of foreign tour expenses as capital expenditure, emphasizing the lack of evidence on the actual purpose of the expenses. However, the court reversed the decision on the disallowance of Rs. 16,029 paid to M/s. G. Perry & Sons Ltd., holding that the expenditure was revenue in nature for acquiring technical knowledge and services, not a capital asset. The ITO's decision on the foreign tour expenses was justified, while the treatment of the payment to M/s. G. Perry & Sons Ltd. as capital expenditure was not upheld. Case-Laws Income Tax Tue, 31 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35634