https://www.taxtmi.com/caselaws?id=355873 The court classified the payment made to the National Stock Exchange as capital expenditure, determining it created an enduring asset for the appellant enabling them to trade as a broker. The court emphasized the payment was essential for acquiring membership, granting the right to conduct business, and was not akin to stock-in-trade or consumable materials. Citing legal precedents and applying tests for enduring benefit and one-time payment, the court ruled in favor of the Revenue, dismissing the appeal and affirming the Tribunal's decision without costs. en-us Thu, 15 Feb 2018 00:00:00 +0530 Thu, 22 Mar 2018 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355873 The court classified the payment made to the National Stock Exchange as capital expenditure, determining it created an enduring asset for the appellant enabling them to trade as a broker. The court emphasized the payment was essential for acquiring membership, granting the right to conduct business, and was not akin to stock-in-trade or consumable materials. Citing legal precedents and applying tests for enduring benefit and one-time payment, the court ruled in favor of the Revenue, dismissing the appeal and affirming the Tribunal's decision without costs. Case-Laws Income Tax Thu, 15 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355873