https://www.taxtmi.com/caselaws?id=9102 Expenditure on land purchased in the name of the District Collector for a subsidised industrial housing scheme was treated as revenue expenditure because it was incurred wholly and exclusively for business purposes. Although the land was intended for workers' quarters, title vested in the Government and no capital asset came into existence in the assessee's hands. The controlling test was whether the outlay created an asset or enduring advantage for the business; on these facts, the welfare arrangement reflected commercial expediency and a continuing housing obligation, not a capital benefit. The expenditure was therefore deductible under section 10(2)(xv) of the Indian Income-tax Act, 1922. en-us Fri, 26 Oct 1973 00:00:00 +0530 Fri, 19 Jun 2009 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9102 Expenditure on land purchased in the name of the District Collector for a subsidised industrial housing scheme was treated as revenue expenditure because it was incurred wholly and exclusively for business purposes. Although the land was intended for workers' quarters, title vested in the Government and no capital asset came into existence in the assessee's hands. The controlling test was whether the outlay created an asset or enduring advantage for the business; on these facts, the welfare arrangement reflected commercial expediency and a continuing housing obligation, not a capital benefit. The expenditure was therefore deductible under section 10(2)(xv) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 26 Oct 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9102