https://www.taxtmi.com/caselaws?id=58787 Expenditure incurred by firms to send a partner abroad for MBA and management accounting studies was treated as revenue expenditure because it was undertaken under a written business arrangement to improve management and accounting skills and enhance professional services. The contractual commitment for post-study service showed a commercial purpose, and the outlay facilitated business efficiency without creating a capital asset. Any incidental personal benefit to the partner did not change the business character of the expense. The expenditure was therefore allowable as business expenditure, and the Revenue's appeal failed. en-us Fri, 29 Apr 1988 00:00:00 +0530 Wed, 22 Dec 2010 11:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58787 Expenditure incurred by firms to send a partner abroad for MBA and management accounting studies was treated as revenue expenditure because it was undertaken under a written business arrangement to improve management and accounting skills and enhance professional services. The contractual commitment for post-study service showed a commercial purpose, and the outlay facilitated business efficiency without creating a capital asset. Any incidental personal benefit to the partner did not change the business character of the expense. The expenditure was therefore allowable as business expenditure, and the Revenue's appeal failed. Case-Laws Income Tax Fri, 29 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58787