https://www.taxtmi.com/caselaws?id=238512 The Tribunal upheld the CIT(A)'s decision to treat interest and processing charges as revenue expenditure, rejecting the Revenue's arguments for capitalization. The judgment emphasized the business purpose of the loans and their nature, concluding that the expenses were deductible as revenue expenditure. The appeal by the Revenue was dismissed on both issues, affirming that the interest and processing charges were rightly treated as revenue expenses in the context of the construction business. en-us Fri, 20 Sep 2013 00:00:00 +0530 Fri, 25 Oct 2013 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238512 The Tribunal upheld the CIT(A)'s decision to treat interest and processing charges as revenue expenditure, rejecting the Revenue's arguments for capitalization. The judgment emphasized the business purpose of the loans and their nature, concluding that the expenses were deductible as revenue expenditure. The appeal by the Revenue was dismissed on both issues, affirming that the interest and processing charges were rightly treated as revenue expenses in the context of the construction business. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238512