Assessee-company is  engaged in business of manufacturing paints and enamels. It had incurred expenditure on exploring various business opportunities such as furniture space, home improvement, kitchen space, bathroom space and acquisition of paints manufacturing company in Ethiopia. Tribunal held that since expenditure incurred on exploring business opportunities in furniture and furnishings constituted a completely new line of business and was not an extension of existing business of assessee, same is  capital in nature. (AY. 2014-15)