https://www.taxtmi.com/caselaws?id=799117 Business-expenditure deductibility under sections 28(i) and 29 requires an expense-wise factual inquiry into whether legal and professional costs were incurred for continuing or preserving the business. Transfer of a branch undertaking on a going-concern basis did not itself resolve the position where statutory assets remained with the taxpayer. As the purpose of retaining those assets and the connection of the predominant expenses with business purposes or pending branch litigation were not established, the claim against interest on an income-tax refund requires fresh determination through de novo assessment. en-us Wed, 15 Jul 2026 00:00:00 +0530 Thu, 17 Sep 2026 07:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799117 Business-expenditure deductibility under sections 28(i) and 29 requires an expense-wise factual inquiry into whether legal and professional costs were incurred for continuing or preserving the business. Transfer of a branch undertaking on a going-concern basis did not itself resolve the position where statutory assets remained with the taxpayer. As the purpose of retaining those assets and the connection of the predominant expenses with business purposes or pending branch litigation were not established, the claim against interest on an income-tax refund requires fresh determination through de novo assessment. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799117