https://www.taxtmi.com/caselaws?id=214726 The High Court dismissed the appeal under Section 260A of the Income Tax Act, 1961, regarding the allowability of Over Your Telephone (OYT) scheme payment as expenditure for the assessment year 1998-99. The court upheld the assessee's treatment of OYT deposit as deferred revenue expenditure, writing it off over three years in line with accepted accounting practices. Emphasizing consistency in accounting practices and revenue acceptance, the court found no merit in the appellant's argument and concluded that no substantial question of law arose, leading to the appeal's dismissal. en-us Tue, 29 May 2012 00:00:00 +0530 Fri, 13 Jul 2012 09:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214726 The High Court dismissed the appeal under Section 260A of the Income Tax Act, 1961, regarding the allowability of Over Your Telephone (OYT) scheme payment as expenditure for the assessment year 1998-99. The court upheld the assessee's treatment of OYT deposit as deferred revenue expenditure, writing it off over three years in line with accepted accounting practices. Emphasizing consistency in accounting practices and revenue acceptance, the court found no merit in the appellant's argument and concluded that no substantial question of law arose, leading to the appeal's dismissal. Case-Laws Income Tax Tue, 29 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214726