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of <h1>Tax Appeals Dismissed: Court Rules Debenture Expenses as Capital Expenditure in Favor of Taxpayer.</h1> <h3>M/s RANBAXY LABORATORIES LTD. Versus DEPUTY COMMISSIONER OF INCOME TAX </h3> The High Court of Delhi dismissed the appeals by the Assessee against the Income Tax Appellate Tribunal's order for the Assessment Years 1992-93 and ... Nature of expenditure on debentures issued - HELD THAT:- It is now seen that by an order [2013 (9) TMI 1057 - DELHI HIGH COURT]. The question framed in the present appeals is similar to question No. (iii) in the said appeal and that has been decided in favour of the Assessee and against the Revenue. The High Court of Delhi dismissed the appeals by the Assessee against the order of the Income Tax Appellate Tribunal for the Assessment Years 1992-93 and 1994-95. The Court ruled in favor of the Assessee regarding the classification of expenditure on debentures as capital expenditure. The appeals were disposed of accordingly.
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