https://www.taxtmi.com/caselaws?id=49528 Expenditure on training jockeys was deductible as business expenditure because it was incurred on commercial expediency to secure a skilled workforce essential to the profitable conduct and preservation of the race-meeting business. The spending was laid out wholly and exclusively for business purposes and did not create a separate capital asset or enduring advantage; any benefit was confined to maintaining the day-to-day operation of the business. The disallowance was therefore unsustainable, and the deduction was admissible. en-us Mon, 28 Nov 1960 00:00:00 +0530 Mon, 01 Sep 2014 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49528 Expenditure on training jockeys was deductible as business expenditure because it was incurred on commercial expediency to secure a skilled workforce essential to the profitable conduct and preservation of the race-meeting business. The spending was laid out wholly and exclusively for business purposes and did not create a separate capital asset or enduring advantage; any benefit was confined to maintaining the day-to-day operation of the business. The disallowance was therefore unsustainable, and the deduction was admissible. Case-Laws Income Tax Mon, 28 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49528