https://www.taxtmi.com/caselaws?id=25149 Whether "regular assessment" in s.214 means only original assessment or subsequent appellate orders: court applied precedent that the term does not favour the assessee; outcome - decision for the Revenue. Whether surtax under the Companies (Profits) Surtax Act, 1964 is deductible in computing total income: court followed existing authority that it is not deductible; outcome - decision for the Revenue. Whether technical fees paid to a foreign company are revenue or capital expenditure: characterized as capital expenditure on precedent; outcome - decision for the Revenue. Whether pre-paid expenses/insurances constitute assets for capital computation under Rule 19A: accepted prior authority treating them as assets; outcome - decision for the assessee. Whether depreciation under s.32(1) is allowable after full deduction under s.35 in an earlier year: retrospective amendment barred double benefit; outcome - decision for the Revenue. Whether legal/consultation fees for issuing bonus shares and fees to increase authorised capital are deductible: treated as revenue/ordinary business expenditure on their nature and authorities; outcome - decisions for the assessee. Weighted deduction for export activities: factual verification required; outcome - matter remitted to the ITO for determination. en-us Mon, 24 Aug 1987 00:00:00 +0530 Fri, 16 Jan 2026 11:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25149 Whether "regular assessment" in s.214 means only original assessment or subsequent appellate orders: court applied precedent that the term does not favour the assessee; outcome - decision for the Revenue. Whether surtax under the Companies (Profits) Surtax Act, 1964 is deductible in computing total income: court followed existing authority that it is not deductible; outcome - decision for the Revenue. Whether technical fees paid to a foreign company are revenue or capital expenditure: characterized as capital expenditure on precedent; outcome - decision for the Revenue. Whether pre-paid expenses/insurances constitute assets for capital computation under Rule 19A: accepted prior authority treating them as assets; outcome - decision for the assessee. Whether depreciation under s.32(1) is allowable after full deduction under s.35 in an earlier year: retrospective amendment barred double benefit; outcome - decision for the Revenue. Whether legal/consultation fees for issuing bonus shares and fees to increase authorised capital are deductible: treated as revenue/ordinary business expenditure on their nature and authorities; outcome - decisions for the assessee. Weighted deduction for export activities: factual verification required; outcome - matter remitted to the ITO for determination. Case-Laws Income Tax Mon, 24 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25149