https://www.taxtmi.com/caselaws?id=253487 The High Court upheld the Tribunal's decision to allow provisions for network repair and maintenance, credit verification cost, consultancy charges, and car hiring charges as expenditures. It also ruled that brand launch expenses should be treated as revenue expenditure in the year they were incurred, rejecting the concept of deferred revenue expenditure. The court emphasized that revenue expenditure should be allowed in the year it is incurred unless exceptional circumstances justify spreading it over future years, in line with taxation laws and established precedents. en-us Wed, 29 Oct 2014 00:00:00 +0530 Wed, 26 Nov 2014 06:38:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253487 The High Court upheld the Tribunal's decision to allow provisions for network repair and maintenance, credit verification cost, consultancy charges, and car hiring charges as expenditures. It also ruled that brand launch expenses should be treated as revenue expenditure in the year they were incurred, rejecting the concept of deferred revenue expenditure. The court emphasized that revenue expenditure should be allowed in the year it is incurred unless exceptional circumstances justify spreading it over future years, in line with taxation laws and established precedents. Case-Laws Income Tax Wed, 29 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253487