https://www.taxtmi.com/caselaws?id=61731 Expenditure incurred to obtain advice and effect dilution of foreign shareholding so as to comply with foreign exchange restrictions and continue business was held to be revenue in nature. The payments were not referable to any transfer of the business or acquisition or improvement of a fixed capital asset; they were made in the course of business to protect and maintain trading operations. Applying the capital-versus-revenue principle, the outlay was therefore allowable as a deduction. en-us Fri, 17 Dec 1982 00:00:00 +0530 Fri, 14 Jan 2011 15:47:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61731 Expenditure incurred to obtain advice and effect dilution of foreign shareholding so as to comply with foreign exchange restrictions and continue business was held to be revenue in nature. The payments were not referable to any transfer of the business or acquisition or improvement of a fixed capital asset; they were made in the course of business to protect and maintain trading operations. Applying the capital-versus-revenue principle, the outlay was therefore allowable as a deduction. Case-Laws Income Tax Fri, 17 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61731