Bombay High Court Allows Revenue Appeal in Income Tax Case — Payment to Retiring Partners Held Capital Expenditure. Amount of Rs.1,34,678 paid to retiring partners under Memorandum of Understanding is capital expenditure not deductible as revenue expenditure.
30 Aug 2005The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal. The assessee, Mandovi Hotel Pvt....
