Held that expenditure on account of consultancy fees paid for purposes of studying and preparing a strategy to reduce cost of production by assessee is held to be revenue expenditure. (AY. 2007-08)
CIT v. Telco Construction Equipment Co. Ltd. (2021) 280 Taxman 78 / 203 DTR 49/ 322 CTR 458 (Karn.)(HC)
S. 37(1) : Business expenditure-Consultancy fees-Studying and preparing a strategy to reduce cost of production-Allowable as revenue expenditure.