https://www.taxtmi.com/caselaws?id=37084 The court concluded that the payments of Rs. 90,000 and Rs. 33,987 made by the assessee-company were capital expenditure for the assessment years 1962-63 and 1963-64, respectively, under the Income-tax Act, 1961. The court upheld the Tribunal's decision, ruling in favor of the revenue, and ordered each party to bear its own costs. The payments were deemed to be for acquiring a new source of income and were considered capital in nature based on legal precedents and the specific terms of the agreements involved. en-us Mon, 24 Apr 1978 00:00:00 +0530 Fri, 26 Mar 2010 12:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37084 The court concluded that the payments of Rs. 90,000 and Rs. 33,987 made by the assessee-company were capital expenditure for the assessment years 1962-63 and 1963-64, respectively, under the Income-tax Act, 1961. The court upheld the Tribunal's decision, ruling in favor of the revenue, and ordered each party to bear its own costs. The payments were deemed to be for acquiring a new source of income and were considered capital in nature based on legal precedents and the specific terms of the agreements involved. Case-Laws Income Tax Mon, 24 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37084