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2012 (10) TMI 574 - HC - Income TaxExpenditure on consultancy charges - capital v/s Revenue - Held that:- As decided in Alembic Chemical Works Company Limited Versus CIT, Gujarat [1989 (3) TMI 5 - SUPREME COURT] that the consistent guiding principles in matters of understanding an expenditure as capital or revenue in nature, is to find out the aim and object of the expenditure and the commercial necessities of making such an expenditure and also by considering the nature of areas which the assessee wanted to cover by the study and by making the consultancy expenditure, no hesitation in holding that the expenditure referred to above are to be treated as only revenue expenditure and not as capital expenditure - in favour of assessee.
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