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2002 (8) TMI 7 - CALCUTTA HIGH COURTPayment of the development charges - assessee paid a sum of ₹ 25 lakhs for development purposes for the purpose of becoming a member of Stock Exchange - assessee's contention was that the amount is by way of revenue expenditure - Secondly, the assessee submitted that it was entitled to dissect the revenue expenditure of ₹ 25 lakhs, into 10 equal parts of ₹ 2,50,000 each, and claim deduction thereof in 10 successive assessment years - No doubt a very enduring benefit was accruing to the assessee on payment of the development charges. That would render the expenditure as a capital one. Moreover, we are quite unaware of any authority given in the Income-tax Act, for carrying forward revenue expenditure, after dividing it, as per the assessee's own wish, into subsequent assessment years. – Thus petition is dismissed
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