https://www.taxtmi.com/caselaws?id=285627 Legal expenses incurred to obtain a variation of an A licence were held to be capital expenditure because they improved the taxpayer's income-earning capacity by enlarging a business asset of enduring character, rather than meeting a revenue cost; the deduction was therefore disallowed under Schedule D. The request to remit the matter for further evidence was refused because the capital nature of the licence had already been squarely raised before the commissioners, and no adequate basis was shown for a fresh hearing. en-us Wed, 12 Dec 1956 00:00:00 +0530 Mon, 20 Jan 2020 12:55:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285627 Legal expenses incurred to obtain a variation of an A licence were held to be capital expenditure because they improved the taxpayer's income-earning capacity by enlarging a business asset of enduring character, rather than meeting a revenue cost; the deduction was therefore disallowed under Schedule D. The request to remit the matter for further evidence was refused because the capital nature of the licence had already been squarely raised before the commissioners, and no adequate basis was shown for a fresh hearing. Case-Laws Income Tax Wed, 12 Dec 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285627