Expenditure - Indian Laws - General

Expenditure In Random House Dictionary of the English Language, it has been defined to mean : 1. The act of expending ; disbursement; consumption. 2. that which is expended... In Corpus Juris Secundum (Vol. 35), expenditure has been defined as follows : In its broader sense the word expenditure is any laying out or disbursement of money; and the term is defined as meaning the act of expending ; disbursement, expense, money expended, a laying out, as of money, or the spending of money. The term does, however, often connote the using up or consumption of property. The meaning of the word is particularly governed by its context. Supreme Court in the context of the Income-tax Act itself in Indian Molasses Co. P. Ltd. v. CIT - 1959 (5) TMI 5 - SUPREME COURT , where expenditure has been defined as follows (p. 78) : spending in the sense of paying out or away money is the primary meaning . . . expenditure is thus what is paid out or away and is something which is gone irretrievably . CIT VERSUS HARDWARE EXCHANGE - 1991 (4) TMI 114 - GAUHATI HIGH COURT