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2010 (8) TMI 19 - HC - Income TaxCapital versus revenue expenditure - consultancy charges paid to various authorities for obtaining study reports in Bitumen - an enduring advantage – Held that: - the consultancy expenditure in the present case amounted to revenue expenditure, as by virtue of the consultancy the respondent-assessee had neither acquired an income earning asset nor did it obtain any enduring advantage. Moreover, the aforesaid expenses are clearly relatable to the business of the respondent-assessee.
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