https://www.taxtmi.com/caselaws?id=117263 The ITAT dismissed the Revenue's appeal, confirming that the expenditure on the telefilm production and the stamp duty incurred were allowable as revenue expenditures. The tribunal held that the telefilm expenditure did not create a capital asset or enduring benefit, qualifying as revenue expenditure under section 37(1) of the Income-tax Act. Additionally, the stamp duty for acquiring assets on lease was considered a revenue expenditure related to leasing transactions, following precedents that such expenses are allowable. en-us Fri, 09 Aug 2002 00:00:00 +0530 Thu, 25 Feb 2016 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117263 The ITAT dismissed the Revenue's appeal, confirming that the expenditure on the telefilm production and the stamp duty incurred were allowable as revenue expenditures. The tribunal held that the telefilm expenditure did not create a capital asset or enduring benefit, qualifying as revenue expenditure under section 37(1) of the Income-tax Act. Additionally, the stamp duty for acquiring assets on lease was considered a revenue expenditure related to leasing transactions, following precedents that such expenses are allowable. Case-Laws Income Tax Fri, 09 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117263