https://www.taxtmi.com/caselaws?id=27650 Revenue expenditure includes repairs to damaged structures and utilities that do not constitute renovation or capital improvement, because they facilitate business operations without altering fixed capital. Know-how acquired for use in an existing manufacturing business is also revenue in character where it improves or facilitates the same line of business without creating a new capital asset or changing the capital structure. Both expenditures were allowable on revenue account. An enduring benefit alone does not make an outlay capital; the decisive consideration is whether it creates an advantage in the capital field or merely supports efficient conduct of the existing business. en-us Wed, 27 Jun 1984 00:00:00 +0530 Mon, 15 Feb 2010 12:02:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27650 Revenue expenditure includes repairs to damaged structures and utilities that do not constitute renovation or capital improvement, because they facilitate business operations without altering fixed capital. Know-how acquired for use in an existing manufacturing business is also revenue in character where it improves or facilitates the same line of business without creating a new capital asset or changing the capital structure. Both expenditures were allowable on revenue account. An enduring benefit alone does not make an outlay capital; the decisive consideration is whether it creates an advantage in the capital field or merely supports efficient conduct of the existing business. Case-Laws Income Tax Wed, 27 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27650