https://www.taxtmi.com/caselaws?id=259912 The Tribunal allowed both appeals, holding that the entrance fee for business club membership constitutes revenue expenditure. The Tribunal disagreed with the CIT(A)'s classification of the fee as capital expenditure, citing decisions favoring the assessee from various courts. The Tribunal emphasized that such fees facilitate business operations without directly contributing to profit generation, thus qualifying as revenue expenditure. The appeals were allowed, and the decision was rendered on 30.04.2015. en-us Thu, 30 Apr 2015 00:00:00 +0530 Tue, 26 May 2015 07:47:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259912 The Tribunal allowed both appeals, holding that the entrance fee for business club membership constitutes revenue expenditure. The Tribunal disagreed with the CIT(A)'s classification of the fee as capital expenditure, citing decisions favoring the assessee from various courts. The Tribunal emphasized that such fees facilitate business operations without directly contributing to profit generation, thus qualifying as revenue expenditure. The appeals were allowed, and the decision was rendered on 30.04.2015. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259912