https://www.taxtmi.com/caselaws?id=27578 The court held that the expenditure incurred by the assessee for executing a lease deed was of a capital nature as it resulted in acquiring an asset of enduring nature for a business started for the first time. Despite the argument that the period of the lease should not determine the nature of the expenditure, the court emphasized that the crucial factor was the necessity of the amount for earning profits. The decision was against the assessee, disallowing the deduction claimed for the expenditure. en-us Wed, 14 Mar 1984 00:00:00 +0530 Sat, 13 Feb 2010 16:59:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27578 The court held that the expenditure incurred by the assessee for executing a lease deed was of a capital nature as it resulted in acquiring an asset of enduring nature for a business started for the first time. Despite the argument that the period of the lease should not determine the nature of the expenditure, the court emphasized that the crucial factor was the necessity of the amount for earning profits. The decision was against the assessee, disallowing the deduction claimed for the expenditure. Case-Laws Income Tax Wed, 14 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27578