https://www.taxtmi.com/caselaws?id=61616 The Tribunal partly allowed the appeals, providing specific directions on each issue. Promotional and product development expenses were deemed revenue in nature, not capital, thus deductible. The Tribunal excluded sales tax, excise duty, and freight from total turnover for Section 80HHC deductions. It allowed Section 80-I deductions for industrial undertakings, maintaining consistency with prior rulings. Managerial labor and factory staff salaries were upheld in closing stock valuation. Interest on capital for a new plant was allowed as revenue expenditure. ERP implementation expenses were considered revenue, and the Tribunal directed reevaluation of excise duty adjustments under Section 43B. en-us Wed, 21 Mar 2007 00:00:00 +0530 Tue, 30 Jan 2024 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61616 The Tribunal partly allowed the appeals, providing specific directions on each issue. Promotional and product development expenses were deemed revenue in nature, not capital, thus deductible. The Tribunal excluded sales tax, excise duty, and freight from total turnover for Section 80HHC deductions. It allowed Section 80-I deductions for industrial undertakings, maintaining consistency with prior rulings. Managerial labor and factory staff salaries were upheld in closing stock valuation. Interest on capital for a new plant was allowed as revenue expenditure. ERP implementation expenses were considered revenue, and the Tribunal directed reevaluation of excise duty adjustments under Section 43B. Case-Laws Income Tax Wed, 21 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61616