https://www.taxtmi.com/caselaws?id=186325 Whether expenses incurred in connection with commencing specific kuri operations are revenue or capital: the analysis applies the Revenue v Capital distinction and treats commission for canvassing, stationery, advertisement, registration, travelling, stamp paper, postage and printing as revenue expenditures incurred in the ordinary course of carrying on an authorised banking business; by analogy to expenses for opening a branch or registering a trade-mark, these costs are deductible under the provision allowing deductions for business commencement-related expenses, while distinguishing non-deductible debenture-raising costs. Outcome: such kuri commencement expenses are deductible. en-us Wed, 05 Dec 1962 00:00:00 +0530 Wed, 14 Sep 2016 15:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186325 Whether expenses incurred in connection with commencing specific kuri operations are revenue or capital: the analysis applies the Revenue v Capital distinction and treats commission for canvassing, stationery, advertisement, registration, travelling, stamp paper, postage and printing as revenue expenditures incurred in the ordinary course of carrying on an authorised banking business; by analogy to expenses for opening a branch or registering a trade-mark, these costs are deductible under the provision allowing deductions for business commencement-related expenses, while distinguishing non-deductible debenture-raising costs. Outcome: such kuri commencement expenses are deductible. Case-Laws Income Tax Wed, 05 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186325