https://www.taxtmi.com/caselaws?id=29477 The High Court of BOMBAY determined that the expenditure of Rs. 10,700 for drawing up a deed of lease related to business premises was a revenue expenditure and not capital in nature. Despite the 20-year lease period, the court found that the expense was necessary for conducting business and did not create an enduring asset. The court ruled in favor of the assessee, directing the Commissioner to cover the costs of the reference. en-us Fri, 19 Feb 1982 00:00:00 +0530 Sat, 13 Mar 2010 11:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29477 The High Court of BOMBAY determined that the expenditure of Rs. 10,700 for drawing up a deed of lease related to business premises was a revenue expenditure and not capital in nature. Despite the 20-year lease period, the court found that the expense was necessary for conducting business and did not create an enduring asset. The court ruled in favor of the assessee, directing the Commissioner to cover the costs of the reference. Case-Laws Income Tax Fri, 19 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29477