Right in the law in holding expenses that occur for foreign education and training costs
The petitioners, M/S.Aswathanarayana & Eswara have raised the problem of whether the court is right in the law in holding expenses that occur for foreign education and training costs from a partner Shri H.S.Rinivas Shri, son of one of Shri’s partners. Eswara, as a personal in nature and, is therefore not a permitted reduction.
Company running the professional consultation for leading Indian corporate clients
The assessee is a partnership company consisting of two brothers, two sons of one brother. All of these four partners are engineers who meet the requirements (B.E.) and the company running the professional consultation for leading Indian corporate clients. One of the partner’s sons, Mr.H.Sriprakash Shastri, joined the company in April 2000 after completing B.E. He has taken an active part in doing the company’s business from the date of his induction as a partner.
Reinforced concrete designs, planning estimates, and construction management
Even when doing it. Of course, he was declared to have attended the office and became acquainted with reinforced concrete designs, planning estimates, and construction management. After graduating, he was used as a company work partner and he had worked on several projects, mentioned by the assessee. In February 2001, he was sent to Australia for higher education.
Professional fees are received by the company has increased substantially
The duration of the course and training is for a period of two semesters and courses were directly related to the profession run by the company and this is obtained in supporting the company, as can be seen from the facts placed in front of CIT(a), where the professional fees are received by the company has increased substantially.
Qualifications of education and expertise obtained by partners from overseas companies
At first, after completing a postgraduate degree, partners continued to work for companies and materials placed to show that some important contracts have been guaranteed by the company, which they attribute with the qualifications of education and expertise obtained by partners from overseas companies. There is no material place by income to show that every part or whole stand was taken by the appraiser is incorrect.
Section 37 of the act to avoid personal expenses as business expenses
Division Bench consisting of Judges M.Duraiswamy and T.V. Tamilselvi is fully satisfied that this is not a case where there is a misuse of provisions provided in section 37 of the act to avoid personal expenses as business expenses.
Therefore, the court is considered a view that the expenditure is permitted and the authorities simultaneously not consider the factual position placed, regardless of specific reasons raised before the court, which will make a misguided decision.
“We are of the considered view that the authorities simultaneously make serious legal mistakes and fail to overcome the problems that should be handled, the ingredients are ignored that should be considered and applying a fully distinguished decision on the facts,” The court. said
