https://www.taxtmi.com/caselaws?id=21193 The High Court ruled that legal expenses incurred in defending a case before the Supreme Court challenging the transfer of shares were deemed capital expenditure, similar to expenses related to proceedings before the Company Law Board. The Court emphasized the continuity of proceedings and the objective of litigation, determining that the expenses were not deductible as revenue expenditure but rather aimed at acquiring title to the shares. The decision favored the Revenue, establishing the nature of such legal expenses as capital in nature. en-us Thu, 19 Nov 1992 00:00:00 +0530 Fri, 20 Nov 2009 16:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21193 The High Court ruled that legal expenses incurred in defending a case before the Supreme Court challenging the transfer of shares were deemed capital expenditure, similar to expenses related to proceedings before the Company Law Board. The Court emphasized the continuity of proceedings and the objective of litigation, determining that the expenses were not deductible as revenue expenditure but rather aimed at acquiring title to the shares. The decision favored the Revenue, establishing the nature of such legal expenses as capital in nature. Case-Laws Income Tax Thu, 19 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21193