Foreign travel for securing capital investment is capital expenditure not allowable u/s 30 to 38

Balkrishna Live Stock Breeders Pvt. Ltd. Vs ACIT (ITAT Bangalore)

Held that foreign travel directly relating to securing the capital investment in the assessee’s business is capital in nature. Accordingly, such expenditure is not allowable expenditure u/s 30 to 38 as expenditure is not laid down wholly and exclusively for day to day operation of the assessee’s business.

Facts-

During the course of scrutiny, the asses

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