https://www.taxtmi.com/caselaws?id=178274 The ITAT allowed the appeal, overturning the disallowance of interest under section 36(1)(iii) and Brand Development expenses and professional fees. The disallowed interest was deemed related to the business based on the appellant's capital and net profit. Brand Development expenses and professional fees were considered revenue expenditures essential for profit-earning, not capital expenses. The ITAT directed the AO to delete the interest addition and allow the expenses, aligning with the appellant's arguments and relevant legal precedents. en-us Fri, 28 Sep 2012 00:00:00 +0530 Wed, 24 Jan 2018 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178274 The ITAT allowed the appeal, overturning the disallowance of interest under section 36(1)(iii) and Brand Development expenses and professional fees. The disallowed interest was deemed related to the business based on the appellant's capital and net profit. Brand Development expenses and professional fees were considered revenue expenditures essential for profit-earning, not capital expenses. The ITAT directed the AO to delete the interest addition and allow the expenses, aligning with the appellant's arguments and relevant legal precedents. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178274