https://www.taxtmi.com/caselaws?id=20094 The court concluded that bank charges and interest were not deductible as revenue expenditure since they were related to a new unit not operational during the relevant period. Legal fees for defending acquisition proceedings were also deemed capital expenditure. The classification of traveling and training expenses as capital expenditure was not analyzed further. The issue of depreciation on traveling expenses for a director's visit was not addressed. The court directed the Tribunal to reevaluate the evidence and determine if the businesses were interconnected for expense purposes under section 37. en-us Wed, 19 May 1993 00:00:00 +0530 Wed, 11 Nov 2009 16:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20094 The court concluded that bank charges and interest were not deductible as revenue expenditure since they were related to a new unit not operational during the relevant period. Legal fees for defending acquisition proceedings were also deemed capital expenditure. The classification of traveling and training expenses as capital expenditure was not analyzed further. The issue of depreciation on traveling expenses for a director's visit was not addressed. The court directed the Tribunal to reevaluate the evidence and determine if the businesses were interconnected for expense purposes under section 37. Case-Laws Income Tax Wed, 19 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20094