https://www.taxtmi.com/caselaws?id=8578 The court held that payments made under the agreement dated December 7, 1959, were capital in nature and not allowable as revenue expenditure. Regarding the consultancy fee under the agreement dated September 29, 1959, only 2/3 of the fee was deemed admissible as revenue expenditure. The determination of chargeable profits under the Sur-tax Act was to be based on the total income computed in accordance with these findings. The assessee was directed to pay the costs of the reference, along with an advocate's fee of Rs. 250. en-us Mon, 29 Nov 1971 00:00:00 +0530 Thu, 30 Apr 2009 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8578 The court held that payments made under the agreement dated December 7, 1959, were capital in nature and not allowable as revenue expenditure. Regarding the consultancy fee under the agreement dated September 29, 1959, only 2/3 of the fee was deemed admissible as revenue expenditure. The determination of chargeable profits under the Sur-tax Act was to be based on the total income computed in accordance with these findings. The assessee was directed to pay the costs of the reference, along with an advocate's fee of Rs. 250. Case-Laws Income Tax Mon, 29 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8578