https://www.taxtmi.com/caselaws?id=24807 The High Court of Madhya Pradesh determined that the expenditure of Rs. 38,000 was capital in nature, not revenue, for a private limited company's assessment year 1976-77. The court held that since the expenditure was for acquiring possession rights, it qualified as capital expenditure for an enduring asset. Relying on a principle established by the Supreme Court and a decision by the Calcutta High Court, the court disagreed with the Tribunal's decision to treat the expenditure as revenue. Consequently, the court ruled in favor of the Revenue, directing each party to bear their own costs in the reference. en-us Thu, 14 Jul 1988 00:00:00 +0530 Mon, 04 Jul 2016 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24807 The High Court of Madhya Pradesh determined that the expenditure of Rs. 38,000 was capital in nature, not revenue, for a private limited company's assessment year 1976-77. The court held that since the expenditure was for acquiring possession rights, it qualified as capital expenditure for an enduring asset. Relying on a principle established by the Supreme Court and a decision by the Calcutta High Court, the court disagreed with the Tribunal's decision to treat the expenditure as revenue. Consequently, the court ruled in favor of the Revenue, directing each party to bear their own costs in the reference. Case-Laws Income Tax Thu, 14 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24807