https://www.taxtmi.com/caselaws?id=241696 The Tribunal dismissed the department's appeal and affirmed the decision of the Ld. CIT (A) regarding bond issue expenses as revenue expenditure for Assessment Year 2002-03. The Tribunal concluded that the expenses were for business purposes and not for enduring benefit, citing relevant case law and the nature of funds raised through bond issuance as liabilities, not capital assets. The department's argument that the expenses should be treated as capital expenditure was rejected, and the Tribunal found no merit in their contentions. en-us Fri, 20 Dec 2013 00:00:00 +0530 Mon, 30 Dec 2013 09:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241696 The Tribunal dismissed the department's appeal and affirmed the decision of the Ld. CIT (A) regarding bond issue expenses as revenue expenditure for Assessment Year 2002-03. The Tribunal concluded that the expenses were for business purposes and not for enduring benefit, citing relevant case law and the nature of funds raised through bond issuance as liabilities, not capital assets. The department's argument that the expenses should be treated as capital expenditure was rejected, and the Tribunal found no merit in their contentions. Case-Laws Income Tax Fri, 20 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241696