Allowing the appeal of the assessee the Court held that the agreement for services relating to increased efficiency and foreign travel of wives of directors is allowable as deduction.(AY.1996-97 to 1999-2000)
Rockman Cycles Industries Ltd. v. CIT (Appeals) (2023)456 ITR 443/155 taxmann.com 34 (P&H)(HC) Highway Cycles Industries Ltd. v. CIT (Appeals) (2023)456 ITR 443/155 taxmann.com 34 (P&H)(HC)
S. 37(1) : Business expenditure-Commercial expediency-Agreement for services relating to increased efficiency-Foreign travel of wives of directors-Allowable as deduction.