https://www.taxtmi.com/caselaws?id=202295 The claim of expenditure as revenue expenditure was initially disallowed by the Tribunal, leading to penalty proceedings under section 271(1)(c) of the Income-tax Act. However, the penalty was set aside by the Commissioner of Income tax (Appeals) and the Income-tax Appellate Tribunal, deeming the claim debatable and not warranting a penalty. The Court upheld the decisions of the lower authorities, finding no question of law to consider, resulting in the dismissal of the appeals. Consequently, related applications were disposed of, marking the finality of the matter as determined by the Court. en-us Thu, 09 Dec 2010 00:00:00 +0530 Wed, 26 Dec 2012 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202295 The claim of expenditure as revenue expenditure was initially disallowed by the Tribunal, leading to penalty proceedings under section 271(1)(c) of the Income-tax Act. However, the penalty was set aside by the Commissioner of Income tax (Appeals) and the Income-tax Appellate Tribunal, deeming the claim debatable and not warranting a penalty. The Court upheld the decisions of the lower authorities, finding no question of law to consider, resulting in the dismissal of the appeals. Consequently, related applications were disposed of, marking the finality of the matter as determined by the Court. Case-Laws Income Tax Thu, 09 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202295