https://www.taxtmi.com/caselaws?id=261522 The Tribunal upheld the Commissioner's decision to treat market research expenses as revenue expenditure for the assessment year 1998-99. The court emphasized that the expenses aimed at extending the existing business into new territories, qualifying them as revenue expenditure. Following established legal principles, expenses enhancing current operations are considered revenue expenditure, while those for new ventures may be capital. The court found the research aligned with the assessee's business improvement, affirming the Tribunal's decision. The appeal by the Revenue was dismissed, favoring the assessee. en-us Tue, 30 Jun 2015 00:00:00 +0530 Wed, 15 Jul 2015 06:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261522 The Tribunal upheld the Commissioner's decision to treat market research expenses as revenue expenditure for the assessment year 1998-99. The court emphasized that the expenses aimed at extending the existing business into new territories, qualifying them as revenue expenditure. Following established legal principles, expenses enhancing current operations are considered revenue expenditure, while those for new ventures may be capital. The court found the research aligned with the assessee's business improvement, affirming the Tribunal's decision. The appeal by the Revenue was dismissed, favoring the assessee. Case-Laws Income Tax Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261522