Bombay HC upholds Tribunal decision on consultancy charges as revenue expenditure boosting profitability.

The Bombay HC upheld the Tribunal's decision, dismissing the appeal on consultancy charges paid by the assessee to M/s. Renoir Consultancy as revenue expenditure, as it contributed to the company's improved profitability.

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The Bombay High Court dismissed the appeal regarding consultancy charges paid by the assessee to M/s. Renoir Consultancy as a revenue expenditure. The Tribunal's decision was upheld based on the finding that the expenditure led to improved profitability of the company.

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