https://www.taxtmi.com/caselaws?id=18122 Expenditure incurred to dissolve a partnership formed in the course of the assessee's ordinary film-production business was held to be revenue in nature. The partnership arrangement was treated as one mode of carrying on the business, and its separate form did not by itself convert the dissolution cost into capital expenditure. As the outlay was incurred in the course of business and was not shown to be for acquiring an enduring asset or advantage, it was deductible in computing total income. The question was answered in favour of the assessee. en-us Mon, 19 Feb 1996 00:00:00 +0530 Sat, 26 Sep 2009 18:26:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18122 Expenditure incurred to dissolve a partnership formed in the course of the assessee's ordinary film-production business was held to be revenue in nature. The partnership arrangement was treated as one mode of carrying on the business, and its separate form did not by itself convert the dissolution cost into capital expenditure. As the outlay was incurred in the course of business and was not shown to be for acquiring an enduring asset or advantage, it was deductible in computing total income. The question was answered in favour of the assessee. Case-Laws Income Tax Mon, 19 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18122