https://www.taxtmi.com/article/detailed?id=10893 Expenditure is revenue if it forms an integral part of the profit earning process in the ordinary conduct of business and does not result in acquisition of a permanent asset or right. Expenditure to start a new business not previously carried on is capital in nature even if unrealised; expenditure for expansion of an existing unified business under common control and common funds is ordinarily revenue unless it results in creation of an enduring asset. Prior accounting classification does not determine tax character. en-us Thu, 22 Dec 2022 12:58:00 +0530 Thu, 22 Dec 2022 12:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10893 Expenditure is revenue if it forms an integral part of the profit earning process in the ordinary conduct of business and does not result in acquisition of a permanent asset or right. Expenditure to start a new business not previously carried on is capital in nature even if unrealised; expenditure for expansion of an existing unified business under common control and common funds is ordinarily revenue unless it results in creation of an enduring asset. Prior accounting classification does not determine tax character. Articles Income Tax Thu, 22 Dec 2022 12:58:00 +0530 https://www.taxtmi.com/article/detailed?id=10893