https://www.taxtmi.com/caselaws?id=151542 Leasehold-premises expenditure was treated as revenue expenditure because it did not create a capital asset in the assessee's hands. The Tribunal also deleted the transfer-pricing addition and held that a voluntary receipt from SPE Mauritius Holding Ltd. was not taxable as income because there was no consideration, quid pro quo or enforceable right to receive it. Bad debts written off and provision for leave encashment were allowed on the basis of prior taxability and crystallised liability. Deduction under Section 80HHF was partly allowed for operational receipts, with some items remitted for verification and netting applied where appropriate. Interest under Section 234D was held not leviable. en-us Fri, 12 Feb 2010 00:00:00 +0530 Thu, 24 Aug 2023 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151542 Leasehold-premises expenditure was treated as revenue expenditure because it did not create a capital asset in the assessee's hands. The Tribunal also deleted the transfer-pricing addition and held that a voluntary receipt from SPE Mauritius Holding Ltd. was not taxable as income because there was no consideration, quid pro quo or enforceable right to receive it. Bad debts written off and provision for leave encashment were allowed on the basis of prior taxability and crystallised liability. Deduction under Section 80HHF was partly allowed for operational receipts, with some items remitted for verification and netting applied where appropriate. Interest under Section 234D was held not leviable. Case-Laws Income Tax Fri, 12 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151542