https://www.taxtmi.com/caselaws?id=187361 A non-recurring payment made to secure control of a business and settle a partner's claim was held to be capital expenditure, not revenue expenditure deductible under section 10(2)(xv). The decisive test was whether the outlay was wholly and exclusively for the business and whether it created an enduring profit-making advantage. Because the payment secured the right to carry on the business and was not a routine operating expense, it was treated as capital in character and disallowed as a deduction. en-us Fri, 13 Apr 1962 00:00:00 +0530 Wed, 19 Oct 2016 15:30:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187361 A non-recurring payment made to secure control of a business and settle a partner's claim was held to be capital expenditure, not revenue expenditure deductible under section 10(2)(xv). The decisive test was whether the outlay was wholly and exclusively for the business and whether it created an enduring profit-making advantage. Because the payment secured the right to carry on the business and was not a routine operating expense, it was treated as capital in character and disallowed as a deduction. Case-Laws Income Tax Fri, 13 Apr 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187361