https://www.taxtmi.com/caselaws?id=36795 The Tribunal was justified in allowing the assessee to claim a deduction of Rs. 2,87,500 related to debenture discounts. However, the court ruled that there was no actual expenditure of Rs. 2,87,500, and therefore, it could not be considered as revenue expenditure. The court emphasized that the accounting treatment of the discount did not change the fundamental nature of the transaction, leading to the disallowance of the claimed amount as revenue expenditure. en-us Mon, 05 Nov 1979 00:00:00 +0530 Wed, 24 Mar 2010 15:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36795 The Tribunal was justified in allowing the assessee to claim a deduction of Rs. 2,87,500 related to debenture discounts. However, the court ruled that there was no actual expenditure of Rs. 2,87,500, and therefore, it could not be considered as revenue expenditure. The court emphasized that the accounting treatment of the discount did not change the fundamental nature of the transaction, leading to the disallowance of the claimed amount as revenue expenditure. Case-Laws Income Tax Mon, 05 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36795