https://www.taxtmi.com/caselaws?id=332926 The Court held that the expenditure on the issue of convertible debentures should be treated as capital expenditure due to the enduring benefits received from the conversion into equity shares. The appeal was dismissed, ruling in favor of the Revenue. A certificate of fitness was granted for approaching the Apex Court, but the judgment ultimately favored the Revenue, disposing of the appeal. en-us Tue, 14 Jun 2016 00:00:00 +0530 Thu, 29 Sep 2016 08:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332926 The Court held that the expenditure on the issue of convertible debentures should be treated as capital expenditure due to the enduring benefits received from the conversion into equity shares. The appeal was dismissed, ruling in favor of the Revenue. A certificate of fitness was granted for approaching the Apex Court, but the judgment ultimately favored the Revenue, disposing of the appeal. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332926