https://www.taxtmi.com/caselaws?id=17669 Loss from discarding a milk plant was held not deductible under sections 28 and 45 because it did not fall within those provisions. Surtax payable under the Companies (Profits) Surtax Act, 1964 was also not deductible in computing total income, following the Supreme Court authority cited. The amount paid to obtain a licence to establish and work a distillery was treated as capital expenditure, as the licence secured the right to set up and operate the business itself, and therefore was not allowable as revenue deduction under section 37. The Tribunal's view was sustained on all referred questions. en-us Thu, 17 Oct 1996 00:00:00 +0530 Thu, 24 Sep 2009 10:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17669 Loss from discarding a milk plant was held not deductible under sections 28 and 45 because it did not fall within those provisions. Surtax payable under the Companies (Profits) Surtax Act, 1964 was also not deductible in computing total income, following the Supreme Court authority cited. The amount paid to obtain a licence to establish and work a distillery was treated as capital expenditure, as the licence secured the right to set up and operate the business itself, and therefore was not allowable as revenue deduction under section 37. The Tribunal's view was sustained on all referred questions. Case-Laws Income Tax Thu, 17 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17669