https://www.taxtmi.com/caselaws?id=216559 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the royalty payment as revenue expenditure, emphasizing the importance of considering the nature of the business and adhering to relevant circulars in tax matters. The judgment highlighted the need for consistency in the treatment of expenditures for tax purposes and criticized the Assessing Officer for deviating from accepted practices and ignoring relevant guidelines. en-us Tue, 31 Jul 2012 00:00:00 +0530 Thu, 13 Sep 2012 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216559 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the royalty payment as revenue expenditure, emphasizing the importance of considering the nature of the business and adhering to relevant circulars in tax matters. The judgment highlighted the need for consistency in the treatment of expenditures for tax purposes and criticized the Assessing Officer for deviating from accepted practices and ignoring relevant guidelines. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216559