https://www.taxtmi.com/caselaws?id=27463 A contractual payment made after possession of the cinema property had passed in part performance of the sale agreements was held to be revenue expenditure, not capital cost. The payment compensated the vendors for the temporary use or retention of unpaid purchase money until the sale deed was registered, and was incurred in the course of trading operations. Because it did not perfect title, create a new asset, or enhance the value of the property, no enduring advantage arose. The amount was therefore allowable as a deduction in computing business income and was not part of the purchase price. en-us Thu, 17 Nov 1983 00:00:00 +0530 Sat, 13 Feb 2010 10:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27463 A contractual payment made after possession of the cinema property had passed in part performance of the sale agreements was held to be revenue expenditure, not capital cost. The payment compensated the vendors for the temporary use or retention of unpaid purchase money until the sale deed was registered, and was incurred in the course of trading operations. Because it did not perfect title, create a new asset, or enhance the value of the property, no enduring advantage arose. The amount was therefore allowable as a deduction in computing business income and was not part of the purchase price. Case-Laws Income Tax Thu, 17 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27463