https://www.taxtmi.com/caselaws?id=8329 Payment made to secure recognition of textbooks for sale in a new territory created an enduring business advantage and was therefore capital expenditure, not a revenue deduction. The fact that the payment was made by instalments did not change its character. The assessee's printing and publishing activity also did not qualify as a newly established industrial undertaking, because the later use of its own printing press was treated as a continuation and altered form of an existing business rather than a new undertaking. Exemption under section 15C was therefore unavailable. Both substantive tax questions were answered against the assessee. en-us Mon, 15 Mar 1971 00:00:00 +0530 Thu, 09 Apr 2009 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8329 Payment made to secure recognition of textbooks for sale in a new territory created an enduring business advantage and was therefore capital expenditure, not a revenue deduction. The fact that the payment was made by instalments did not change its character. The assessee's printing and publishing activity also did not qualify as a newly established industrial undertaking, because the later use of its own printing press was treated as a continuation and altered form of an existing business rather than a new undertaking. Exemption under section 15C was therefore unavailable. Both substantive tax questions were answered against the assessee. Case-Laws Income Tax Mon, 15 Mar 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8329