https://www.taxtmi.com/caselaws?id=103065 The Supreme Court held that professional charges for amalgamation were deductible as revenue expenditure necessary for business operations. The Court distinguished between revenue and capital expenditure, emphasizing the essential nature of amalgamation for business efficiency. Regarding the contribution to construction of tenements, the Court agreed with the Tribunal that the expenditure was revenue in nature, aimed at ensuring a contented labor force without conferring ownership of tenements to the assessee. The Court dismissed the appeals, upholding the rejection of the application under the Income-tax Act, 1961. en-us Thu, 29 Feb 1996 00:00:00 +0530 Wed, 07 Oct 2015 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103065 The Supreme Court held that professional charges for amalgamation were deductible as revenue expenditure necessary for business operations. The Court distinguished between revenue and capital expenditure, emphasizing the essential nature of amalgamation for business efficiency. Regarding the contribution to construction of tenements, the Court agreed with the Tribunal that the expenditure was revenue in nature, aimed at ensuring a contented labor force without conferring ownership of tenements to the assessee. The Court dismissed the appeals, upholding the rejection of the application under the Income-tax Act, 1961. Case-Laws Income Tax Thu, 29 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103065