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2003 (4) TMI 37 - GUJARAT HIGH COURTExpenses for obtaining the loan could not be treated as capital expenditure, because, their direct nexus was with acquiring the loan and not with acquiring of any asset - foreign tour expenses incurred by the managing director of the company was not incurred for any new project of the assessee but was in connection with some project – Thus, Tribunal erred in law in holding that the foreign tour expenses was not allowable revenue expenditure - Tribunal is right in deleting the addition made by the Income-tax Officer invoking the provisions of section 43B because first proviso to section 43B has to be treated as retrospective
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