https://www.taxtmi.com/caselaws?id=62241 Professional and legal charges for financial advisory services connected with business finance were treated as revenue expenditure because the outlay did not create an enduring asset, and club subscriptions were allowable where they served business networking and commercial advantage. Royalty paid for collecting sand was characterised as capital expenditure, but depreciation was allowed as consequential relief. For section 40A(5), motor car perquisites had to be valued under the statutory ceiling framework, not by the assessee's proposed method. Expenditure on maintaining an agency outside India for promotion of sales qualified for weighted deduction, as an independent foreign agent could fall within the provision. en-us Tue, 07 Jun 1994 00:00:00 +0530 Tue, 18 Jan 2011 17:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62241 Professional and legal charges for financial advisory services connected with business finance were treated as revenue expenditure because the outlay did not create an enduring asset, and club subscriptions were allowable where they served business networking and commercial advantage. Royalty paid for collecting sand was characterised as capital expenditure, but depreciation was allowed as consequential relief. For section 40A(5), motor car perquisites had to be valued under the statutory ceiling framework, not by the assessee's proposed method. Expenditure on maintaining an agency outside India for promotion of sales qualified for weighted deduction, as an independent foreign agent could fall within the provision. Case-Laws Income Tax Tue, 07 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62241