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2005 (5) TMI 31 - HC - Income TaxSection 37 - expenses on account of OTC membership and annual fee - "Whether, having due regard to the facts of the case, the expenditure on payment of one-time non-refundable fee for dealership of OTC had resulted in a direct and substantial personal benefit to the assessee in his existing business of trading in shares/securities was allowable as revenue expenditure?" - expenditure incurred in the present case cannot be termed as one of an enduring nature - we answer the question framed in the affirmative, the expenditure in question ought to be treated a revenue expenditure, since it cannot be termed as one that results in an "enduring benefit". – appeal allowed
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