https://www.taxtmi.com/caselaws?id=7506 Earlier-year expenditure carried forward in accounts is deductible in a later assessment year only where a regularly and consistently employed accounting method requires that treatment; no such method was established, so the deduction was unavailable. Profits from sales of unascertained gypsum accrued at Jamsar because appropriation occurred there, railway receipts were in buyers' names, goods moved at their risk, and the seller retained no lien; the profits therefore accrued in Part B State. Litigation expenditure incurred to secure an additional lease right and ward off competition was capital in nature because it protected or created an enduring asset, and was not deductible as revenue expenditure. en-us Tue, 29 Oct 1968 00:00:00 +0530 Fri, 20 Feb 2009 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7506 Earlier-year expenditure carried forward in accounts is deductible in a later assessment year only where a regularly and consistently employed accounting method requires that treatment; no such method was established, so the deduction was unavailable. Profits from sales of unascertained gypsum accrued at Jamsar because appropriation occurred there, railway receipts were in buyers' names, goods moved at their risk, and the seller retained no lien; the profits therefore accrued in Part B State. Litigation expenditure incurred to secure an additional lease right and ward off competition was capital in nature because it protected or created an enduring asset, and was not deductible as revenue expenditure. Case-Laws Income Tax Tue, 29 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7506