https://www.taxtmi.com/caselaws?id=256498 The Tribunal determined that the expenditure incurred for obtaining research reports was revenue in nature, not capital. The reports were used for ongoing business operations, not to acquire enduring assets. Thus, the disallowance of the expenditure and the levy of interest under sections 234B and 234D were deemed incorrect. The appeal was allowed, reversing the disallowance and setting aside the interest levy. en-us Wed, 04 Feb 2015 00:00:00 +0530 Sat, 07 Nov 2015 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256498 The Tribunal determined that the expenditure incurred for obtaining research reports was revenue in nature, not capital. The reports were used for ongoing business operations, not to acquire enduring assets. Thus, the disallowance of the expenditure and the levy of interest under sections 234B and 234D were deemed incorrect. The appeal was allowed, reversing the disallowance and setting aside the interest levy. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256498