https://www.taxtmi.com/caselaws?id=257386 The High Court upheld the Tribunal's decision in favor of the assessee, ruling that the loss incurred in a new business activity should be treated as revenue expenditure. The Court emphasized that the loss was attributable to the existing business activity and not a separate venture, following the principles outlined in a previous Gujarat High Court case. It highlighted the importance of distinguishing between expenses related to existing business enhancements and those associated with new ventures when classifying expenditure as revenue or capital. en-us Tue, 24 Feb 2015 00:00:00 +0530 Wed, 12 Aug 2015 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257386 The High Court upheld the Tribunal's decision in favor of the assessee, ruling that the loss incurred in a new business activity should be treated as revenue expenditure. The Court emphasized that the loss was attributable to the existing business activity and not a separate venture, following the principles outlined in a previous Gujarat High Court case. It highlighted the importance of distinguishing between expenses related to existing business enhancements and those associated with new ventures when classifying expenditure as revenue or capital. Case-Laws Income Tax Tue, 24 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257386