COMMISSIONER OF INCOME TAX Vs. PML INDUSTRIES LTD.

JUDGEMENT

(1.) THE Revenue has filed the present appeal under s. 260A of the IT Act, 1961 (hereinafter referred to as the 'Act') against raise the following substantial questions of law :

(2.) WHETHER on the facts and circumstances of the case and in law, the Hon'ble Tribunal was correct in holding that the expenditure of Rs. 8,86,771 incurred by the assessee was revenue expenditure - accompanied by P&L a/c and balance sheet and tax audit report. The return was processed as such under s. 143(1)(a) apart from other additions, an amount of Rs. 8,86,771 claimed as revenue expenditure by the assessee spent on foreign travelling expenses was disallowed and added in the income of the assessee.

(3.) AGGRIEVED against this order, the assessee filed an appeal before the CIT(A) which was partly allowed vide his order spent by the appellant was held to be a capital expenditure and the order of the AO was upheld in this regard.