Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's categorization of the relaunch expenses as capital expenditure. It recognized these expenses as revenue in nature, incurred during the ordinary course of business for rebranding and promotional activities. The tribunal referenced several precedents where similar expenses were treated as revenue expenses, thereby allowing the appeal on this point.
Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's categorization of the relaunch expenses as capital expenditure. It recognized these expenses as revenue in nature, incurred during the ordinary course of business for rebranding and promotional activities. The tribunal referenced several precedents where similar expenses were treated as revenue expenses, thereby allowing the appeal on this point.
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