https://www.taxtmi.com/caselaws?id=30507 The High Court of Madras upheld the Tribunal's decision that the entire expenses for the debenture issue should be treated as revenue expenditure under the Income-tax Act, 1961. The court relied on established legal principles and previous judgments, dismissing the Revenue's appeal. The court emphasized that the expenses were incurred for obtaining a loan and were not affected by potential future events involving debenture holders receiving shares. The judgment reaffirmed the treatment of debenture issue expenses as revenue expenditure, with no substantial question of law warranting further consideration. en-us Mon, 02 Jul 2007 00:00:00 +0530 Sat, 30 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30507 The High Court of Madras upheld the Tribunal's decision that the entire expenses for the debenture issue should be treated as revenue expenditure under the Income-tax Act, 1961. The court relied on established legal principles and previous judgments, dismissing the Revenue's appeal. The court emphasized that the expenses were incurred for obtaining a loan and were not affected by potential future events involving debenture holders receiving shares. The judgment reaffirmed the treatment of debenture issue expenses as revenue expenditure, with no substantial question of law warranting further consideration. Case-Laws Income Tax Mon, 02 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30507