https://www.taxtmi.com/caselaws?id=26822 The High Court ruled in favor of the company, allowing the expenses incurred for prospecting bauxite mines and training employees to be treated as revenue expenditure under section 37 of the Income-tax Act, 1961. The Court held that both expenses were aimed at enhancing business operations and earning profits, rather than creating enduring assets. Therefore, the prospecting and training expenses were deemed allowable deductions, emphasizing their direct connection to profit-making activities. en-us Tue, 07 Jan 1986 00:00:00 +0530 Mon, 08 Feb 2010 16:48:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26822 The High Court ruled in favor of the company, allowing the expenses incurred for prospecting bauxite mines and training employees to be treated as revenue expenditure under section 37 of the Income-tax Act, 1961. The Court held that both expenses were aimed at enhancing business operations and earning profits, rather than creating enduring assets. Therefore, the prospecting and training expenses were deemed allowable deductions, emphasizing their direct connection to profit-making activities. Case-Laws Income Tax Tue, 07 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26822