1991 (11) TMI 91

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..... e outstanding amount of sales-tax liability is said to be pertaining to last quarter which was duly paid before the time prescribed for submission of return under s. 139(1) in the subsequent year. The matter is, therefore, clearly covered by the decision of Tribunal in the case of Chandulal Venichand vs. ITO (1991) 96 CTR (Trib) (Ahd) 39 : (1991) 40 TTJ (Ahd) 350 : (1991) 38 ITD 138 (Ahd). The ITO .....

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..... T(A) confirmed the said disallowance on the ground that it was incurred from acquiring know-how and technical knowledge which had an enduring benefit for the business of the appellant. The expenditure in question was held to be capital expenditure. 2.2. Before us the learned counsel for the assessee contended that the company had incurred substantial losses in the year under consideration as wel .....

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..... etter conduct and improvement of the existing business without resulting in acquisition of any new capital asset is allowable as a revenue expenditure. Such a view is clearly fortified by the judgment of Hon'ble Supreme Court in the case of Empire Jute Co. Ltd. vs. CIT (1980) 17 CTR (SC) 13 : (1980) 124 ITR 1 (SC) and Alembic Chemical Works Co. Ltd. vs. CIT (1989) 77 CTR (SC) 1 : (1989) 177 ITR 37 .....

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