https://www.taxtmi.com/caselaws?id=39807 The High Court held that the expenditure incurred by the assessee for setting up a straw-board factory was deductible under section 37 of the Income-tax Act. The court found that the new venture was part of the existing interconnected business operations, emphasizing unity in management and organization. Rejecting the argument that the expenditure was capital in nature, the court ruled in favor of the assessee, allowing the deduction and awarding costs against the department for the assessment year 1966-67. en-us Fri, 01 Feb 1974 00:00:00 +0530 Tue, 20 Apr 2010 13:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39807 The High Court held that the expenditure incurred by the assessee for setting up a straw-board factory was deductible under section 37 of the Income-tax Act. The court found that the new venture was part of the existing interconnected business operations, emphasizing unity in management and organization. Rejecting the argument that the expenditure was capital in nature, the court ruled in favor of the assessee, allowing the deduction and awarding costs against the department for the assessment year 1966-67. Case-Laws Income Tax Fri, 01 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39807