https://www.taxtmi.com/caselaws?id=68520 Deprivation charges paid for the period of temporary management pending acquisition were treated as revenue expenditure because they related to loss of profits and business operations, not acquisition of a capital asset; the matter was remanded for verification of quantification and year of allowability. Legal fees for income-tax advice were held deductible under section 37(1) because section 80VV applied only to expenditure incurred in proceedings before tax forums on tax liability, and the disallowance was deleted. For customer interest, the applicable method depended on whether the changed accounting method was consistently followed, so the Assessing Officer had to verify the position and assess accordingly. The rebate claim under section 80HH was to be examined only if positive income existed, and additional grounds were remanded for fresh consideration. en-us Wed, 24 Apr 2002 00:00:00 +0530 Wed, 30 Mar 2011 18:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68520 Deprivation charges paid for the period of temporary management pending acquisition were treated as revenue expenditure because they related to loss of profits and business operations, not acquisition of a capital asset; the matter was remanded for verification of quantification and year of allowability. Legal fees for income-tax advice were held deductible under section 37(1) because section 80VV applied only to expenditure incurred in proceedings before tax forums on tax liability, and the disallowance was deleted. For customer interest, the applicable method depended on whether the changed accounting method was consistently followed, so the Assessing Officer had to verify the position and assess accordingly. The rebate claim under section 80HH was to be examined only if positive income existed, and additional grounds were remanded for fresh consideration. Case-Laws Income Tax Wed, 24 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68520