1978 (1) TMI 38

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ant to the assessment year 1965-66, the assessee spent a sum of Rs. 17,440 for erecting a gate in the Gandhi Garden at Meerut and installing a statue of late Jugmandar Dass Jain, who was the founder-director of the assessee-company. The garden where the statue was installed belonged to the Cantonment Board, Meerut Cantt. The assessee claimed this amount as a deductible revenue expenditure. The ITO .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ven if it is assumed that the erection of the statue was made for the business needs of the assessee, by making the gate in the garden and installing a statue in the garden, the assessee sought to gain an advantage of an enduring nature and when the expenditure is incurred for bringing into existence an advantage of enduring nature such expenditure is certainly referable to expenditure on capital .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... curring this expenditure. The expenditure appears to be more for perpetuating the memory of the founder-director of the assessee. Even if it be assumed that the expenditure led to an enhancement of the goodwill of the company then it was an advantage of an enduring nature which will go to appreciate the capital assets of the assessee. Under the circumstances, this expense could not be held to be o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X