Expences on foreign tours u/s.37(3) of Income tax .Act,1961.

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..... of a firm or an employee is not being treated uniformly. Hence the legal position relating to the subject is being restated as under: 2. Ordinarily, the objects for which the director, partner, proprietor or an employee undertakes a tour of foreign countries as under:- i) To study the latest developments in the particular industry associated with the business of the assessee(on behalf of the .....

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..... 2) above would not qualify for deduction. 4. When the foreign tour is undertaken to study the new techniques or developments of the industry abroad or to participate in a seminar conference either on behalf of the assessee or the local association, there is no asset as such brought into existence; on the other hand, the knowledge gained by the foreign tour can be fruitfully utilised in the busin .....

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