https://www.taxtmi.com/caselaws?id=233607 The ITAT upheld the First Appellate Authority's decision, dismissing the Revenue's appeal. The addition of royalty on unaccounted receipts was deleted for the Assessment Year 2007-08, with the ITAT emphasizing contractual terms and legal precedents. The linkage of royalty payment with income spreading over two years was also affirmed, based on the nexus between expenditure and business activities. The ITAT supported allowing the entire expenditure in the year it was incurred, in line with the Authority's decision and relevant case laws. en-us Wed, 13 Feb 2013 00:00:00 +0530 Wed, 08 May 2013 06:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233607 The ITAT upheld the First Appellate Authority's decision, dismissing the Revenue's appeal. The addition of royalty on unaccounted receipts was deleted for the Assessment Year 2007-08, with the ITAT emphasizing contractual terms and legal precedents. The linkage of royalty payment with income spreading over two years was also affirmed, based on the nexus between expenditure and business activities. The ITAT supported allowing the entire expenditure in the year it was incurred, in line with the Authority's decision and relevant case laws. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233607