https://www.taxtmi.com/caselaws?id=29453 The High Court held that the bank guarantee commission and expenses for obtaining letters of credit were capital expenditures, following the precedent set in CIT v. Tensile Steel Ltd. The survey fee, however, was considered revenue expenditure as it was incurred in the course of business operations. The case was certified for appeal to the Supreme Court due to conflicting decisions in other High Courts. en-us Thu, 09 Jul 1981 00:00:00 +0530 Sat, 13 Mar 2010 10:22:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29453 The High Court held that the bank guarantee commission and expenses for obtaining letters of credit were capital expenditures, following the precedent set in CIT v. Tensile Steel Ltd. The survey fee, however, was considered revenue expenditure as it was incurred in the course of business operations. The case was certified for appeal to the Supreme Court due to conflicting decisions in other High Courts. Case-Laws Income Tax Thu, 09 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29453