https://www.taxtmi.com/caselaws?id=8627 Commission paid to procure a single shipping contract for a limited period was held to be revenue expenditure, not capital expenditure, because it was linked only to that transaction and did not create a new source of income, monopoly right, or asset of enduring character. Applying the enduring benefit test, the payment was treated as ordinary commercial outlay incurred in the course of an existing shipping, clearing and forwarding business. The expenditure was therefore allowable as a business deduction rather than an outlay for initiating or expanding the business framework. en-us Fri, 03 Dec 1971 00:00:00 +0530 Fri, 08 May 2009 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8627 Commission paid to procure a single shipping contract for a limited period was held to be revenue expenditure, not capital expenditure, because it was linked only to that transaction and did not create a new source of income, monopoly right, or asset of enduring character. Applying the enduring benefit test, the payment was treated as ordinary commercial outlay incurred in the course of an existing shipping, clearing and forwarding business. The expenditure was therefore allowable as a business deduction rather than an outlay for initiating or expanding the business framework. Case-Laws Income Tax Fri, 03 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8627