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TMI Blog1998 (8) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... l in our view has rightly held that the marketing of rubber gaskets which are essential for laying pipelines, an activity in which the assessee was engaged together with another company known as Mysore Structural Limited, did not constitute an activity in the capital field and that the expenditure incurred for securing an order for the supply of the said gaskets and for entering into an agreement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India does not imply that the assessee had no intention of marketing that product. The fact that it located a customer during that year and for completing the arrangement with that customer, it had to bring in technicians from Athens who apparently were required to study the technical requirements in the field and the nature and specifications of the gaskets to be used and the local conditions and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich concerns the assessment year 1978-79, the questions being (1) whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the business of supply of rubber gaskets was not a new business and, therefore, the sum of Rs. 70,639 being the travelling expenses incurred on the foreign technicians from Athens should be allowed as a deduction ? and (2) wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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