https://www.taxtmi.com/caselaws?id=61087 The appeal regarding the deduction of borrowings and debts from assets for calculating capital employed under Section 80J was allowed, following a Special Bench decision that Rule 19A(3) is inconsistent with Section 80J. The disallowance of foreign travel expenses was partially allowed, with Rs. 15,000 accepted as a legitimate business expense. The disallowance of the depreciation claim on cars was overturned, and the ITO was directed to allow the claim, subject to actual computation. en-us Wed, 14 Jun 1978 00:00:00 +0530 Mon, 10 Jan 2011 17:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61087 The appeal regarding the deduction of borrowings and debts from assets for calculating capital employed under Section 80J was allowed, following a Special Bench decision that Rule 19A(3) is inconsistent with Section 80J. The disallowance of foreign travel expenses was partially allowed, with Rs. 15,000 accepted as a legitimate business expense. The disallowance of the depreciation claim on cars was overturned, and the ITO was directed to allow the claim, subject to actual computation. Case-Laws Income Tax Wed, 14 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61087