1985 (11) TMI 13 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, M/s. Southern Leather Industries, allowing the deduction of foreign tour expenses for partners attending the International Leather Trade Fair. The court found that the foreign tour was directly connected to the business activities of the assessee-firm and aimed to increase income through expanding export opportunities. The Tribunal's decision to grant the deduction was upheld, and the Revenue's appeal was dismissed.