Supreme Court of India
The Commissioner Oe' Income-tax, West Bengal v. Royal Calcutta Turf Club
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From the headnote
Income Tax-Expenditure for preservation of business-If wholly and exclusively laid out for the purpose of business-Indian Income Tax Act, r922 (XI of r922), s. ro (2)(xv). The business of the respondent club was to run race meet ings on a .commercial scale. The club did not own any horse and therefore did not employ jockeys. It. was a matter of some importance to the club that there were jockeys of requisite skill and experience in sufficient numbers who would be available to the owners and trainers because otherwise the running of the race meetings would not be commercially profitable and
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