https://www.taxtmi.com/caselaws?id=277041 Expenditure incurred in running a school to train Indian boys as jockeys was treated as having a direct business purpose because it protected the assessee's racing business against an anticipated shortage of jockeys. Commercial expediency can justify outlay that indirectly preserves trading opportunities or removes an operational risk, and the fact that the benefit is not confined to the accounting year does not by itself make it capital. The recurring annual running cost was said not to create a capital asset or a certain enduring advantage, since the trained boys were under no obligation to serve the assessee. The text nevertheless states that the assessee was not entitled to the deduction claimed. en-us Thu, 29 Aug 1957 00:00:00 +0530 Thu, 22 Nov 2018 17:11:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277041 Expenditure incurred in running a school to train Indian boys as jockeys was treated as having a direct business purpose because it protected the assessee's racing business against an anticipated shortage of jockeys. Commercial expediency can justify outlay that indirectly preserves trading opportunities or removes an operational risk, and the fact that the benefit is not confined to the accounting year does not by itself make it capital. The recurring annual running cost was said not to create a capital asset or a certain enduring advantage, since the trained boys were under no obligation to serve the assessee. The text nevertheless states that the assessee was not entitled to the deduction claimed. Case-Laws Income Tax Thu, 29 Aug 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277041