https://www.taxtmi.com/caselaws?id=219717 The tribunal upheld the CIT (A)'s decision to delete disallowances related to product improvement and leased property improvement expenses, emphasizing the revenue nature of the expenses and lack of acquisition of capital assets. Additionally, the tribunal reversed the disallowance of foreign exchange loss, considering it a legitimate business practice. The department's appeal was dismissed, and the assessee's cross-objection was allowed, affirming the CIT (A)'s rulings. en-us Fri, 19 Oct 2012 00:00:00 +0530 Mon, 24 Dec 2012 08:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219717 The tribunal upheld the CIT (A)'s decision to delete disallowances related to product improvement and leased property improvement expenses, emphasizing the revenue nature of the expenses and lack of acquisition of capital assets. Additionally, the tribunal reversed the disallowance of foreign exchange loss, considering it a legitimate business practice. The department's appeal was dismissed, and the assessee's cross-objection was allowed, affirming the CIT (A)'s rulings. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219717