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2007 (7) TMI 284 - MADRAS HIGH COURT
Whether Tribunal was right in holding that the expenditure for issue of debentures and fixed deposits is a revenue expenditure – Held, yes because expenses relating to obtaining fixed deposits are closely linked with the business requirement of the assessee - Whether Tribunal was right in holding that stand by assets which are not put to use during the relevant year are entitled to depreciation – Held, yes