1980 (3) TMI 35 - HC - Income Tax

Summary

The High Court of Delhi ruled in favor of New Garage Ltd. in a tax case related to the assessment year 1962-63. The court held that the sum of Rs. 10,000 spent by the company to protect its tenancy rights was a business expenditure of revenue nature and allowed it as a deduction in computing the total income of the company. The court agreed with the Tribunal's decision, emphasizing that the expenditure did not result in acquiring any asset or enduring advantage.