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SECTION 37(1) OF THE INCOME-TAX ACT, 1961 – BUSINESS EXPENDITURE – ALLOWABILITY OF

Foreign travelling expenses : Where assessee incurred foreign travelling expenses but failed to provide sufficient evidence to establish that entire amount was exclusively for business, Assessing Officer was to be directed to restrict disallowance to 25 per cent of total expenses – Galaxy International Overseas v. ITO – [2024] 165 taxmann.com 78 (Rajkot – Trib.)

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