https://www.taxtmi.com/caselaws?id=167268 The High Court held that the conversion of debentures into equity shares provided enduring benefits, thus categorizing the related expenditure as capital expenditure. Relying on legal precedents and the nature of debentures and equity capital, the Court ruled in favor of the Revenue, upholding the disallowance of the claimed expenditure. Consequently, the Tribunal's decision was overturned, and the appeals were allowed in favor of the Revenue. en-us Thu, 02 Jul 2009 00:00:00 +0530 Sat, 13 Dec 2014 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167268 The High Court held that the conversion of debentures into equity shares provided enduring benefits, thus categorizing the related expenditure as capital expenditure. Relying on legal precedents and the nature of debentures and equity capital, the Court ruled in favor of the Revenue, upholding the disallowance of the claimed expenditure. Consequently, the Tribunal's decision was overturned, and the appeals were allowed in favor of the Revenue. Case-Laws Income Tax Thu, 02 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167268