1977 (11) TMI 40 - HC - Income Tax

Summary

The High Court directed the Tribunal to state the case for their decision on whether the sum of Rs. 32,500 paid for goodwill should be considered as revenue expenditure. The judgment was based on the case law Devidas Vithaldas & Co. v. Commissioner of Income-tax [1972] 84 ITR 277 (SC).