https://www.taxtmi.com/caselaws?id=177226 Development charges paid to RIICO for land allotted for an industrial unit were treated as capital expenditure because the outlay made the land fit for use and conferred an enduring advantage in the capital field, placing it in fixed capital rather than circulating capital. The Rajasthan HC also noted that the proposed issue on disallowance out of car expenses and depreciation on car was not answered, as it was treated as a pure question of fact and the reference lacked sufficient facts on that point. en-us Thu, 21 Jul 1994 00:00:00 +0530 Wed, 17 Aug 2016 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177226 Development charges paid to RIICO for land allotted for an industrial unit were treated as capital expenditure because the outlay made the land fit for use and conferred an enduring advantage in the capital field, placing it in fixed capital rather than circulating capital. The Rajasthan HC also noted that the proposed issue on disallowance out of car expenses and depreciation on car was not answered, as it was treated as a pure question of fact and the reference lacked sufficient facts on that point. Case-Laws Income Tax Thu, 21 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177226