https://www.taxtmi.com/caselaws?id=205415 The ITAT upheld the CIT(A)'s decision to delete deferred revenue expenditure for the assessment years 2003-04 and 2004-05. The expenses incurred for promotion of new products/brands were considered revenue in nature and fully allowed in the year of incurrence. Legal precedents emphasized that revenue expenditure for business purposes should be fully deductible, regardless of accounting treatment. The ITAT dismissed the Revenue's appeals, affirming the admissibility of the expenses and supporting the CIT(A)'s orders. en-us Mon, 20 Dec 2010 00:00:00 +0530 Tue, 30 Aug 2016 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205415 The ITAT upheld the CIT(A)'s decision to delete deferred revenue expenditure for the assessment years 2003-04 and 2004-05. The expenses incurred for promotion of new products/brands were considered revenue in nature and fully allowed in the year of incurrence. Legal precedents emphasized that revenue expenditure for business purposes should be fully deductible, regardless of accounting treatment. The ITAT dismissed the Revenue's appeals, affirming the admissibility of the expenses and supporting the CIT(A)'s orders. Case-Laws Income Tax Mon, 20 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205415