Expenses not generating capital asset is revenue in nature

Brief of the Case Bombay High Court held In the case of CIT vs. M/s Manganese Ore India Limited that in the present case, the capital assets has never come into existence and accordingly ITAT has allowed travelling expenses or ore testing charges only as revenue expenditure. The travelling expenses or manganese ore testing charges pertaining to the existing mine allowed by the ITAT in the present facts cannot be directly correlated with the acquisition of any capital asset. Also, it is clear that study undertaken by the foreign company i.e M/s. Seltrust Engineering Company Limited, U.K. was i...