COMMISSIONER OF INCOME TAX Vs. FINLAY MILLS LIMITED

JUDGEMENT

(1.) -

(2.) THE question that we have to consider in this reference is wholly covered by a recent decision of this Court reported in Commissioner of Income-tax, Bombay City v. Century Spinning Weaving and Manufacturing Company Ltd. In that case this Court held that the expenditure incurred for applying for trade mark under the Trade Marks Act was an expenditure attributable to revenue inasmuch as it was recurring and it did not bring into existence an asset or an advantage for the enduring benefit of the trade and also that the expenditure was incurred wholly and exclusively for the purpose of the assessees business.