https://www.taxtmi.com/caselaws?id=271813 The Tribunal held that expenditure on research reports for business expansion was revenue expenditure, not capital, emphasizing that it was crucial for existing business growth. The Tribunal distinguished between expenditure for expansion and creation of enduring assets, following the decision in CIT vs. Priya Road Show Limited. The High Court upheld the Tribunal's decision, dismissing the appeal based on the unity of control and common fund principles, affirming that the expenditure was rightly classified as revenue, not capital. en-us Mon, 18 Jan 2016 00:00:00 +0530 Thu, 18 Feb 2016 07:07:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271813 The Tribunal held that expenditure on research reports for business expansion was revenue expenditure, not capital, emphasizing that it was crucial for existing business growth. The Tribunal distinguished between expenditure for expansion and creation of enduring assets, following the decision in CIT vs. Priya Road Show Limited. The High Court upheld the Tribunal's decision, dismissing the appeal based on the unity of control and common fund principles, affirming that the expenditure was rightly classified as revenue, not capital. Case-Laws Income Tax Mon, 18 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271813