https://www.taxtmi.com/caselaws?id=241486 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of conversion charges and parking charges claimed as revenue expenditure by the assessee. It was determined that the payments made to the Municipal Corporation were for operational efficiency and did not result in acquiring a capital asset. The Tribunal emphasized that such expenses for running the business and generating profits are revenue in nature, dismissing the revenue's appeal and affirming the decision of the CIT(A). en-us Fri, 08 Feb 2013 00:00:00 +0530 Fri, 18 Mar 2016 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241486 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of conversion charges and parking charges claimed as revenue expenditure by the assessee. It was determined that the payments made to the Municipal Corporation were for operational efficiency and did not result in acquiring a capital asset. The Tribunal emphasized that such expenses for running the business and generating profits are revenue in nature, dismissing the revenue's appeal and affirming the decision of the CIT(A). Case-Laws Income Tax Fri, 08 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241486