Sec. 37 of Income Tax Act, 1961—Business Expenditure - The assessee challenged the order of Tribunal in disallowing the business expenditure claimed by the assessee company which was incurred for the higher education abroad, of the son of a Director of the assessee company, who was also the Managing Director of a subsidiary company and who was later appointed as a Director of the assessee company itself. High Court dismissed the appeal of the assessee holding that “the son of the Director of the assessee company, send for higher studies was a Managing Director in one subsidiary company. Definitely the subsidiary company could have claimed the expenditure as business expenditure, but, not the assessee Company”. - KERALA KAUMUDI PVT. LTD. V/s CIT - [2020] 425 ITR 202 (KER)