https://www.taxtmi.com/caselaws?id=29611 A settlement payment made once and for all to resolve disputes over unlawful use of goodwill and assets, and to avert possible criminal proceedings, was treated as capital in nature rather than a recurring business outlay. Because the assessee did not show that the expenditure was incurred in the ordinary course of trading operations, it was held not allowable as revenue expenditure under the Income-tax Act, 1961, and the question was answered against the assessee. en-us Tue, 13 Jan 1981 00:00:00 +0530 Mon, 15 Mar 2010 11:10:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29611 A settlement payment made once and for all to resolve disputes over unlawful use of goodwill and assets, and to avert possible criminal proceedings, was treated as capital in nature rather than a recurring business outlay. Because the assessee did not show that the expenditure was incurred in the ordinary course of trading operations, it was held not allowable as revenue expenditure under the Income-tax Act, 1961, and the question was answered against the assessee. Case-Laws Income Tax Tue, 13 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29611