https://www.taxtmi.com/caselaws?id=24598 The court ruled in favor of the Revenue, denying the claims for brokerage paid on the sale of shares, expenses incurred on a foreign tour, fees for a business diversification report, and surtax payable as business expenditure. The judgment emphasized the need for expenses to be wholly and exclusively for the current business to qualify for deductions under section 37 of the Income-tax Act, 1961, distinguishing between capital and revenue expenditure. en-us Wed, 21 Oct 1987 00:00:00 +0530 Thu, 21 Jan 2010 10:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24598 The court ruled in favor of the Revenue, denying the claims for brokerage paid on the sale of shares, expenses incurred on a foreign tour, fees for a business diversification report, and surtax payable as business expenditure. The judgment emphasized the need for expenses to be wholly and exclusively for the current business to qualify for deductions under section 37 of the Income-tax Act, 1961, distinguishing between capital and revenue expenditure. Case-Laws Income Tax Wed, 21 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24598