https://www.taxtmi.com/caselaws?id=21089 The High Court ruled in favor of the assessee, holding that the annual listing fee paid to the stock exchange is allowable as revenue expenditure, not capital expenditure. The Court agreed with the Tribunal and a circular by the Central Board of Direct Taxes, emphasizing that listing fees do not provide enduring benefits or augment the company's capital structure. Listing shares on a stock exchange enhances a company's status, prestige, customer confidence, and employee loyalty, making the expenditure a necessary business expense. en-us Mon, 07 Sep 1992 00:00:00 +0530 Fri, 20 Nov 2009 10:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21089 The High Court ruled in favor of the assessee, holding that the annual listing fee paid to the stock exchange is allowable as revenue expenditure, not capital expenditure. The Court agreed with the Tribunal and a circular by the Central Board of Direct Taxes, emphasizing that listing fees do not provide enduring benefits or augment the company's capital structure. Listing shares on a stock exchange enhances a company's status, prestige, customer confidence, and employee loyalty, making the expenditure a necessary business expense. Case-Laws Income Tax Mon, 07 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21089