https://www.taxtmi.com/caselaws?id=24484 Payment for purchase of loom hours was treated as revenue expenditure, applying Supreme Court principles on the revenue capital distinction, and was therefore deductible in computing business income in favour of the assessee. Questions on the validity of reassessment were not decided and were left unanswered. en-us Mon, 13 Jun 1988 00:00:00 +0530 Wed, 20 Jan 2010 14:03:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24484 Payment for purchase of loom hours was treated as revenue expenditure, applying Supreme Court principles on the revenue capital distinction, and was therefore deductible in computing business income in favour of the assessee. Questions on the validity of reassessment were not decided and were left unanswered. Case-Laws Income Tax Mon, 13 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24484