https://www.taxtmi.com/caselaws?id=214386 The court ruled in favor of the Revenue, considering the professional fees as capital expenditure for an existing business extension. The court relied on precedents establishing that expenses for exploring the feasibility of a new business venture are capital in nature. Despite the applicant's advocate arguing for a different interpretation based on interconnection between existing and new business, the court upheld the previous decisions. The reference was disposed of with no order as to costs. en-us Fri, 15 Jun 2012 00:00:00 +0530 Thu, 28 Jun 2012 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214386 The court ruled in favor of the Revenue, considering the professional fees as capital expenditure for an existing business extension. The court relied on precedents establishing that expenses for exploring the feasibility of a new business venture are capital in nature. Despite the applicant's advocate arguing for a different interpretation based on interconnection between existing and new business, the court upheld the previous decisions. The reference was disposed of with no order as to costs. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214386