https://www.taxtmi.com/caselaws?id=189182 Whether a professional's foreign study tour cost is capital or revenue depends on whether it creates an enduring benefit or materially enlarges the profession; expenditure incurred to maintain or update existing professional skills-without creating a tangible asset, additional qualification, or expanding the scope of practice-is revenue in nature. Applying this principle to the facts, the study tour constituted periodic professional maintenance and did not confer an enduring capital benefit; therefore the outlay is revenue expenditure and is allowable as a deduction under the income tax provision cited by the taxpayer. en-us Thu, 15 Sep 1960 00:00:00 +0530 Fri, 30 Dec 2016 15:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189182 Whether a professional's foreign study tour cost is capital or revenue depends on whether it creates an enduring benefit or materially enlarges the profession; expenditure incurred to maintain or update existing professional skills-without creating a tangible asset, additional qualification, or expanding the scope of practice-is revenue in nature. Applying this principle to the facts, the study tour constituted periodic professional maintenance and did not confer an enduring capital benefit; therefore the outlay is revenue expenditure and is allowable as a deduction under the income tax provision cited by the taxpayer. Case-Laws Income Tax Thu, 15 Sep 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189182