https://www.taxtmi.com/caselaws?id=7414 The court held that the payment of Rs. 40,100 to Shri B. V. Mahabale was a capital expenditure, disallowing the deduction claimed under section 37 of the Income-tax Act. The expenditure was deemed to have procured an enduring benefit in the form of Shri Mahabale's services, technical knowledge, and experience, constituting an intangible asset for the business. The court distinguished the case from precedents involving recurring expenses, emphasizing the one-time nature of the payment for exclusive services. en-us Tue, 17 Sep 1968 00:00:00 +0530 Thu, 19 Feb 2009 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7414 The court held that the payment of Rs. 40,100 to Shri B. V. Mahabale was a capital expenditure, disallowing the deduction claimed under section 37 of the Income-tax Act. The expenditure was deemed to have procured an enduring benefit in the form of Shri Mahabale's services, technical knowledge, and experience, constituting an intangible asset for the business. The court distinguished the case from precedents involving recurring expenses, emphasizing the one-time nature of the payment for exclusive services. Case-Laws Income Tax Tue, 17 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7414