https://www.taxtmi.com/caselaws?id=61528 The Tribunal held that expenditure on non-refundable membership fees paid to stock exchanges is capital in nature as it provides a benefit of enduring nature and is a prerequisite for carrying on the business. The Tribunal allowed the Revenue's appeal regarding the OTCEI payment, upheld the CIT(A)'s disallowance for Ludhiana Stock Exchange, and remanded the issue of depreciation on wooden structures/partitions to the CIT(A) for further examination. The assessee's appeal was dismissed. en-us Thu, 08 May 2003 00:00:00 +0530 Thu, 13 Jan 2011 11:33:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61528 The Tribunal held that expenditure on non-refundable membership fees paid to stock exchanges is capital in nature as it provides a benefit of enduring nature and is a prerequisite for carrying on the business. The Tribunal allowed the Revenue's appeal regarding the OTCEI payment, upheld the CIT(A)'s disallowance for Ludhiana Stock Exchange, and remanded the issue of depreciation on wooden structures/partitions to the CIT(A) for further examination. The assessee's appeal was dismissed. Case-Laws Income Tax Thu, 08 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61528