https://www.taxtmi.com/caselaws?id=36402 The High Court ruled in favor of the assessee, a limited company engaged in manufacturing, allowing the deduction of cable laying charges as revenue expenditure. The Tribunal's decision to disallow the claim was overturned based on precedents establishing such payments as revenue expenditures for enhancing the profit-making structure. The Court referenced relevant case law and concluded that the expenditure was indeed revenue in nature. The second issue regarding the computation method for expenditure under section 37(2) was not addressed as it was not pressed by the assessee's representative. en-us Mon, 28 Jul 1980 00:00:00 +0530 Mon, 22 Mar 2010 11:34:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36402 The High Court ruled in favor of the assessee, a limited company engaged in manufacturing, allowing the deduction of cable laying charges as revenue expenditure. The Tribunal's decision to disallow the claim was overturned based on precedents establishing such payments as revenue expenditures for enhancing the profit-making structure. The Court referenced relevant case law and concluded that the expenditure was indeed revenue in nature. The second issue regarding the computation method for expenditure under section 37(2) was not addressed as it was not pressed by the assessee's representative. Case-Laws Income Tax Mon, 28 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36402