https://www.taxtmi.com/caselaws?id=15951 The High Court of Delhi ruled in favor of the assessee, holding that the admission fee paid to a research organization should be treated as revenue expenditure for the assessment year 1972-73. The court agreed with the Tribunal's decision that the fee did not provide enduring benefits and was necessary for running the business rather than creating a lasting asset. Therefore, the membership fee was classified as revenue expenditure, allowing the assessee to claim it as such for tax purposes. en-us Thu, 29 Jul 1999 00:00:00 +0530 Mon, 31 Aug 2009 11:26:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15951 The High Court of Delhi ruled in favor of the assessee, holding that the admission fee paid to a research organization should be treated as revenue expenditure for the assessment year 1972-73. The court agreed with the Tribunal's decision that the fee did not provide enduring benefits and was necessary for running the business rather than creating a lasting asset. Therefore, the membership fee was classified as revenue expenditure, allowing the assessee to claim it as such for tax purposes. Case-Laws Income Tax Thu, 29 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15951