https://www.taxtmi.com/caselaws?id=9228 Expenditure incurred to secure a temporary respite from municipal taxation and regulatory burdens, where the benefit was limited to a fixed period and did not create a capital asset, was treated as revenue expenditure. The governing test was whether the payment was made to acquire an asset or enduring advantage, in which case it is capital, or to meet the needs of business and remove a recurring disadvantage, in which case it is revenue. On that basis, the portion of the payment not attributable to asset acquisition was deductible in computing business profits under section 10(2)(xv) of the Indian Income-tax Act, 1922. en-us Thu, 15 Nov 1973 00:00:00 +0530 Sat, 20 Jun 2009 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9228 Expenditure incurred to secure a temporary respite from municipal taxation and regulatory burdens, where the benefit was limited to a fixed period and did not create a capital asset, was treated as revenue expenditure. The governing test was whether the payment was made to acquire an asset or enduring advantage, in which case it is capital, or to meet the needs of business and remove a recurring disadvantage, in which case it is revenue. On that basis, the portion of the payment not attributable to asset acquisition was deductible in computing business profits under section 10(2)(xv) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Thu, 15 Nov 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9228