1969 (2) TMI 37

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....,001 as to whether it is a capital or revenue expenditure. We are concerned with the assessment year 1962-63. The assessee was engaged in the manufacture and sale of ready-made garments under the name and style of " Sri Murugan Dress Stores ". He had several branches and the one at Tanjore had to be vacated under rent control proceedings. And so, he obtained a lease of a new building and, in doing....

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.... to the appropriate decisions, particularly Assam Bengal Cement Company Ltd. v. Commissioner of Income-tax, which, laid down the tests, it failed to properly apply them to the facts. We do not think that this criticism is justified. The expenditure does not appear to have been incurred for the purpose of bringing into existence any asset or advantage of an enduring character. There is nothing on r....