https://www.taxtmi.com/caselaws?id=7890 Expenditure incurred once and for all to secure an enduring advantage for the business is capital in nature and not deductible as revenue expenditure. A lease obtained for brick manufacture, conferring a seven-year right to dig and remove earth, was treated as creating a lasting business benefit; the associated outlay was therefore capital expenditure. The cost of erecting a chimney for a brick-kiln was also held to be capital expenditure because the chimney constituted a long-life asset used in the business. The governing principle is that spending which brings into existence a durable asset or enduring benefit is capital, not recurring revenue outlay. en-us Fri, 21 Aug 1970 00:00:00 +0530 Mon, 23 Mar 2009 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7890 Expenditure incurred once and for all to secure an enduring advantage for the business is capital in nature and not deductible as revenue expenditure. A lease obtained for brick manufacture, conferring a seven-year right to dig and remove earth, was treated as creating a lasting business benefit; the associated outlay was therefore capital expenditure. The cost of erecting a chimney for a brick-kiln was also held to be capital expenditure because the chimney constituted a long-life asset used in the business. The governing principle is that spending which brings into existence a durable asset or enduring benefit is capital, not recurring revenue outlay. Case-Laws Income Tax Fri, 21 Aug 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7890