https://www.taxtmi.com/caselaws?id=6697 Consultancy expenditure incurred for preparing budget forms, budgetary control and standard cost evaluation was held to be deductible as business expenditure because it was spent to improve and rationalise the assessee's administration. The expression "for the purpose of business" was treated as wide enough to cover measures connected with rationalisation and modernisation of business administration. On the facts, the consultant's fee was regarded as wholly and exclusively laid out for the business, and the contention that it created a capital asset or enduring benefit was rejected. The amount was therefore allowed as a deduction in computing income. en-us Thu, 02 Jun 1966 00:00:00 +0530 Sun, 01 Feb 2009 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6697 Consultancy expenditure incurred for preparing budget forms, budgetary control and standard cost evaluation was held to be deductible as business expenditure because it was spent to improve and rationalise the assessee's administration. The expression "for the purpose of business" was treated as wide enough to cover measures connected with rationalisation and modernisation of business administration. On the facts, the consultant's fee was regarded as wholly and exclusively laid out for the business, and the contention that it created a capital asset or enduring benefit was rejected. The amount was therefore allowed as a deduction in computing income. Case-Laws Income Tax Thu, 02 Jun 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6697