https://www.taxtmi.com/caselaws?id=254464 The Court upheld that the expenditure incurred by the assessee on converting debentures into equity shares should be treated as capital expenditure, as it provided enduring benefits to the company. The Court relied on a previous decision establishing this principle and emphasized the distinction between capital and revenue expenditure. As the Revenue did not challenge the legal proposition and the Court aligned with the earlier decision, the appeal was decided in favor of the assessee, setting aside the ITAT order. en-us Wed, 03 Dec 2014 00:00:00 +0530 Tue, 23 Dec 2014 06:21:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254464 The Court upheld that the expenditure incurred by the assessee on converting debentures into equity shares should be treated as capital expenditure, as it provided enduring benefits to the company. The Court relied on a previous decision establishing this principle and emphasized the distinction between capital and revenue expenditure. As the Revenue did not challenge the legal proposition and the Court aligned with the earlier decision, the appeal was decided in favor of the assessee, setting aside the ITAT order. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254464