https://www.taxtmi.com/caselaws?id=11709 The High Court remanded the case to the assessing authority to reconsider the nature of the transport subsidy in light of the Supreme Court's decision in Sahney Steel and Press Works Ltd. For the project prospecting expenses, the High Court affirmed that these should be treated as revenue expenditure and deductible, given their purpose to enhance the business efficiency of the existing asbestos sheet manufacturing unit. en-us Wed, 30 Jul 2003 00:00:00 +0530 Sat, 06 Feb 2010 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11709 The High Court remanded the case to the assessing authority to reconsider the nature of the transport subsidy in light of the Supreme Court's decision in Sahney Steel and Press Works Ltd. For the project prospecting expenses, the High Court affirmed that these should be treated as revenue expenditure and deductible, given their purpose to enhance the business efficiency of the existing asbestos sheet manufacturing unit. Case-Laws Income Tax Wed, 30 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11709