https://www.taxtmi.com/caselaws?id=37529 Expenditure incurred to secure leasehold premises for business branches, including lawyers' fees, brokerage and legal charges, was revenue expenditure because it did not bring into existence an asset or enduring capital advantage. The length of the lease, even if five or ten years, was not controlling; the decisive factor was the character and purpose of the payment. As the expenses were incurred to obtain premises for carrying on business and not to acquire a capital asset, they were allowable as a deduction. The reference was answered in favour of the assessee. en-us Mon, 15 Jan 1979 00:00:00 +0530 Tue, 30 Mar 2010 13:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37529 Expenditure incurred to secure leasehold premises for business branches, including lawyers' fees, brokerage and legal charges, was revenue expenditure because it did not bring into existence an asset or enduring capital advantage. The length of the lease, even if five or ten years, was not controlling; the decisive factor was the character and purpose of the payment. As the expenses were incurred to obtain premises for carrying on business and not to acquire a capital asset, they were allowable as a deduction. The reference was answered in favour of the assessee. Case-Laws Income Tax Mon, 15 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37529