https://www.taxtmi.com/caselaws?id=118382 The ITAT Mumbai upheld the CIT(A)'s decisions in a case involving the disallowance of legal fees and treatment of loss on the sale of shares. Legal fees were deemed revenue expenditure as they were incurred to protect business assets, specifically the brand name. The loss on shares was not considered speculative due to the isolated transaction without share purchases during the year. The Revenue's appeal was dismissed, affirming the CIT(A)'s rulings on both issues. en-us Wed, 29 Mar 2006 00:00:00 +0530 Sat, 30 Jun 2012 13:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118382 The ITAT Mumbai upheld the CIT(A)'s decisions in a case involving the disallowance of legal fees and treatment of loss on the sale of shares. Legal fees were deemed revenue expenditure as they were incurred to protect business assets, specifically the brand name. The loss on shares was not considered speculative due to the isolated transaction without share purchases during the year. The Revenue's appeal was dismissed, affirming the CIT(A)'s rulings on both issues. Case-Laws Income Tax Wed, 29 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118382