https://www.taxtmi.com/caselaws?id=207658 Income-tax computation turns on the real commercial character of the item and the treatment in the income-tax books, not its presentation in company-law accounts. Bad debts written off in the income-tax books were allowable despite a different company-law treatment. Diminution in the value of securities held to meet statutory liquidity requirements was treated as a business loss and allowed. A genuine long-term capital loss on sale of unquoted shares to a group concern, made under regulatory compulsion and without proof of sham, was also allowable. Recurring non-exclusive royalty for use of a logo was held to be revenue expenditure because it conferred no enduring capital asset. en-us Thu, 16 Dec 2010 00:00:00 +0530 Fri, 31 May 2013 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207658 Income-tax computation turns on the real commercial character of the item and the treatment in the income-tax books, not its presentation in company-law accounts. Bad debts written off in the income-tax books were allowable despite a different company-law treatment. Diminution in the value of securities held to meet statutory liquidity requirements was treated as a business loss and allowed. A genuine long-term capital loss on sale of unquoted shares to a group concern, made under regulatory compulsion and without proof of sham, was also allowable. Recurring non-exclusive royalty for use of a logo was held to be revenue expenditure because it conferred no enduring capital asset. Case-Laws Income Tax Thu, 16 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207658