https://www.taxtmi.com/caselaws?id=213909 The tribunal partially allowed the appeal of the Revenue, directing the apportionment of the corporate membership fee of Rs.15 lakhs over ten years. The expenditure was deemed revenue and prepaid in nature, requiring proportional write-off over the membership period. The decision was based on the analysis that the membership provided enduring benefits over multiple years, falling under the category of prepaid expenditure rather than capital expenditure. en-us Thu, 10 Mar 2011 00:00:00 +0530 Tue, 12 Jun 2012 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213909 The tribunal partially allowed the appeal of the Revenue, directing the apportionment of the corporate membership fee of Rs.15 lakhs over ten years. The expenditure was deemed revenue and prepaid in nature, requiring proportional write-off over the membership period. The decision was based on the analysis that the membership provided enduring benefits over multiple years, falling under the category of prepaid expenditure rather than capital expenditure. Case-Laws Income Tax Thu, 10 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213909