https://www.taxtmi.com/caselaws?id=20376 HC held that expenditure on preparation of a project report for a proposed new fertilizer unit constitutes capital expenditure and is not deductible u/s 37(1). As regards market survey expenditure, HC laid down that if the survey was exclusively to assess marketability of a new product (triple super phosphate) for a new project, it is capital in nature; if it was a general survey to improve the existing fertilizer business, it is revenue expenditure. This issue was remanded to the Tribunal for factual determination. HC further held that the assigned debt, arising from unpaid sale price already credited as income, had become irrecoverable and qualified as a deductible bad debt u/s 36(1)(vii), answering the question in favour of the assessee. en-us Tue, 13 Oct 1992 00:00:00 +0530 Wed, 10 Dec 2025 21:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20376 HC held that expenditure on preparation of a project report for a proposed new fertilizer unit constitutes capital expenditure and is not deductible u/s 37(1). As regards market survey expenditure, HC laid down that if the survey was exclusively to assess marketability of a new product (triple super phosphate) for a new project, it is capital in nature; if it was a general survey to improve the existing fertilizer business, it is revenue expenditure. This issue was remanded to the Tribunal for factual determination. HC further held that the assigned debt, arising from unpaid sale price already credited as income, had become irrecoverable and qualified as a deductible bad debt u/s 36(1)(vii), answering the question in favour of the assessee. Case-Laws Income Tax Tue, 13 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20376