https://www.taxtmi.com/caselaws?id=7762 Commission paid for procuring raw materials was revenue expenditure because it was incurred for services rendered in the course of trading operations and did not create any capital asset or enduring advantage. Compensation paid to terminate the recurring commission arrangement was also revenue expenditure because it merely released the assessee from a continuing business liability and did not bring into existence a new asset or lasting benefit. Longstanding revenue acceptance of the same treatment, without any change in facts, supported the deduction. Both amounts were therefore allowable as deductions. en-us Thu, 06 Nov 1969 00:00:00 +0530 Thu, 19 Mar 2009 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7762 Commission paid for procuring raw materials was revenue expenditure because it was incurred for services rendered in the course of trading operations and did not create any capital asset or enduring advantage. Compensation paid to terminate the recurring commission arrangement was also revenue expenditure because it merely released the assessee from a continuing business liability and did not bring into existence a new asset or lasting benefit. Longstanding revenue acceptance of the same treatment, without any change in facts, supported the deduction. Both amounts were therefore allowable as deductions. Case-Laws Income Tax Thu, 06 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7762