https://www.taxtmi.com/caselaws?id=38121 Legal expenses incurred to resist a claim threatening a firm's business assets were treated as revenue expenditure because they were spent to defend an existing title, not to create, cure, or complete a defective one. Where litigation is aimed at preserving and protecting assets already employed in the business, the outlay falls within expenditure laid out for business purposes and is not capital in nature. The amount was properly claimed in the relevant previous year once it became ascertained after the trial court's decision. en-us Wed, 08 Dec 1976 00:00:00 +0530 Sat, 03 Apr 2010 12:44:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38121 Legal expenses incurred to resist a claim threatening a firm's business assets were treated as revenue expenditure because they were spent to defend an existing title, not to create, cure, or complete a defective one. Where litigation is aimed at preserving and protecting assets already employed in the business, the outlay falls within expenditure laid out for business purposes and is not capital in nature. The amount was properly claimed in the relevant previous year once it became ascertained after the trial court's decision. Case-Laws Income Tax Wed, 08 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38121