https://www.taxtmi.com/caselaws?id=65873 Payment made to settle an ex-employee's claim linked to a proprietary business acquired as a going concern was treated as capital expenditure, because the liability arose from the acquisition arrangement and represented discharge of an assumed vendor liability rather than a cost incurred in the assessee-company's ordinary business operations. The tribunal therefore held that the amount was not deductible as revenue expenditure and upheld the disallowance. en-us Wed, 08 Apr 1987 00:00:00 +0530 Sat, 19 Feb 2011 10:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65873 Payment made to settle an ex-employee's claim linked to a proprietary business acquired as a going concern was treated as capital expenditure, because the liability arose from the acquisition arrangement and represented discharge of an assumed vendor liability rather than a cost incurred in the assessee-company's ordinary business operations. The tribunal therefore held that the amount was not deductible as revenue expenditure and upheld the disallowance. Case-Laws Income Tax Wed, 08 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65873