https://www.taxtmi.com/caselaws?id=188578 Commission paid to procure debenture finance was treated as capital expenditure because it was incurred to raise borrowing for replacing existing liabilities and strengthening the company's capital structure. The payment was directed to obtaining an asset or advantage of enduring benefit to the business, and the fact that it was spread over years did not alter its character. On that settled test, expenditure made to acquire a capital advantage remains capital in nature even if paid periodically, so it was not deductible as revenue expenditure under section 10(2)(xv). en-us Wed, 30 Aug 1961 00:00:00 +0530 Tue, 06 Dec 2016 18:21:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188578 Commission paid to procure debenture finance was treated as capital expenditure because it was incurred to raise borrowing for replacing existing liabilities and strengthening the company's capital structure. The payment was directed to obtaining an asset or advantage of enduring benefit to the business, and the fact that it was spread over years did not alter its character. On that settled test, expenditure made to acquire a capital advantage remains capital in nature even if paid periodically, so it was not deductible as revenue expenditure under section 10(2)(xv). Case-Laws Income Tax Wed, 30 Aug 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188578