https://www.taxtmi.com/caselaws?id=10507 The High Court of Calcutta dismissed the assessee's appeal regarding the payment of Rs. 25 lakhs for development purposes to become a member of the Calcutta Stock Exchange. The court held the expenditure was capital in nature, not revenue, and rejected the claim to divide it for deduction over multiple assessment years. The appeal was deemed hopeless, and no legal issue was found in the Tribunal's order. en-us Wed, 14 Aug 2002 00:00:00 +0530 Sat, 21 Jan 2017 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10507 The High Court of Calcutta dismissed the assessee's appeal regarding the payment of Rs. 25 lakhs for development purposes to become a member of the Calcutta Stock Exchange. The court held the expenditure was capital in nature, not revenue, and rejected the claim to divide it for deduction over multiple assessment years. The appeal was deemed hopeless, and no legal issue was found in the Tribunal's order. Case-Laws Income Tax Wed, 14 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10507