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1939 (10) TMI 11 - HC - Income TaxExtract: .......er of Income-tax, Madras v. Messrs. P.T. Chengalvaraya Chettiar and, P.L.M.M.V.S. and Company, Madras (1937 Mad. 792). The answer that I would give to the reference is that the sums of ₹ 10,500 and ₹ 350 are expenses of a capital nature and therefore are not permissible deductions. Mockett, J.-I agree. Krishnaswami Ayyangar, J.-I agree.
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