https://www.taxtmi.com/caselaws?id=239289 The Tribunal allowed the appeal, determining that the disputed expenditure of Rs. 2,23,02,662 was revenue in nature and hence allowable under section 37(1) of the Income Tax Act. The Tribunal found that the expenditure did not result in the creation of a new capital asset but rather facilitated the assessee's trading operations. Consequently, the primary issue was resolved in favor of the assessee, leading to the allowance of the appeal. en-us Tue, 16 Apr 2013 00:00:00 +0530 Mon, 11 Nov 2013 09:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239289 The Tribunal allowed the appeal, determining that the disputed expenditure of Rs. 2,23,02,662 was revenue in nature and hence allowable under section 37(1) of the Income Tax Act. The Tribunal found that the expenditure did not result in the creation of a new capital asset but rather facilitated the assessee's trading operations. Consequently, the primary issue was resolved in favor of the assessee, leading to the allowance of the appeal. Case-Laws Income Tax Tue, 16 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239289