https://www.taxtmi.com/caselaws?id=59786 The Appellate Tribunal ITAT CALCUTTA partially allowed the appeal by the assessee, ruling in favor of treating brokerage payment as revenue expenditure rather than capital, upholding the disallowance of traveling expenses within prescribed limits, agreeing with the disallowance of a portion of motor car expenses for personal use, affirming the disallowance of salary paid to the Managing Director prior to incorporation, and directing the computation of deduction under s. 80J based on total capital employed without deducting current trade liabilities. en-us Fri, 11 Apr 1980 00:00:00 +0530 Sat, 01 Jan 2011 11:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59786 The Appellate Tribunal ITAT CALCUTTA partially allowed the appeal by the assessee, ruling in favor of treating brokerage payment as revenue expenditure rather than capital, upholding the disallowance of traveling expenses within prescribed limits, agreeing with the disallowance of a portion of motor car expenses for personal use, affirming the disallowance of salary paid to the Managing Director prior to incorporation, and directing the computation of deduction under s. 80J based on total capital employed without deducting current trade liabilities. Case-Laws Income Tax Fri, 11 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59786