1988 (9) TMI 355

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.... the Tribunal was justified in allowing a deduction of Rs. 10,221 representing travelling expenses and Rs. 17,245 representing expenditure on law costs and stamps in respect of a defunct business in the computation of the total income of the assessee ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal as justified in holding that the expenses of Rs. 10,221 on tra....

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....10 as computed by the Income-tax Officer?" 2. The Commissioner (Appeals) held that the expenses as mentioned in question Nos. 1 and 2, were incurred for the purposes of protecting the company's assets. The Tribunal upheld the finding of the Commissioner (Appeals). The Tribunal further held that the amounts in question were spent in the business interest of the assessee and were deductible i....