https://www.taxtmi.com/caselaws?id=260114 HC upheld the ITAT and allowed the taxpayer's claims: expenditure on development of machinery (including non-separately charged spare parts kept confidential to protect technology) was held to be revenue expenditure and allowable in full, rejecting the Assessing Officer's disallowance. Likewise, bank charges paid to hedge foreign-exchange fluctuations on a loan for machinery import were held to be revenue expenditure and allowable. Both disallowances were decided against revenue. en-us Fri, 24 Apr 2015 00:00:00 +0530 Mon, 08 Sep 2025 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260114 HC upheld the ITAT and allowed the taxpayer's claims: expenditure on development of machinery (including non-separately charged spare parts kept confidential to protect technology) was held to be revenue expenditure and allowable in full, rejecting the Assessing Officer's disallowance. Likewise, bank charges paid to hedge foreign-exchange fluctuations on a loan for machinery import were held to be revenue expenditure and allowable. Both disallowances were decided against revenue. Case-Laws Income Tax Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260114