https://www.taxtmi.com/caselaws?id=8461 Legal expenses incurred in the ordinary course of an existing business to represent the assessee before the State Transport Authority and in writ petitions challenging permits granted to rival carriers were treated as revenue expenditure. The expenditure was incurred to protect and preserve existing business interests and income, and it did not create any new asset, monopoly, or enduring advantage. Accordingly, such legal fees were regarded as deductible revenue outgo, not capital expenditure. en-us Thu, 13 May 1971 00:00:00 +0530 Sun, 26 Apr 2009 22:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8461 Legal expenses incurred in the ordinary course of an existing business to represent the assessee before the State Transport Authority and in writ petitions challenging permits granted to rival carriers were treated as revenue expenditure. The expenditure was incurred to protect and preserve existing business interests and income, and it did not create any new asset, monopoly, or enduring advantage. Accordingly, such legal fees were regarded as deductible revenue outgo, not capital expenditure. Case-Laws Income Tax Thu, 13 May 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8461