https://www.taxtmi.com/caselaws?id=325053 The ITAT Chennai allowed the appeal of the assessee, determining that royalty payments should be considered as revenue expenditure, contrary to the Assessing Officer's treatment as capital expenditure. Additionally, the ITAT Chennai dismissed the Revenue's appeal regarding the disallowance under section 14A of the Income Tax Act, confirming the CIT(A)'s decision to compute the disallowance based on a 2% ratio of exempt income earned. en-us Fri, 18 Dec 2015 00:00:00 +0530 Tue, 08 Mar 2016 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325053 The ITAT Chennai allowed the appeal of the assessee, determining that royalty payments should be considered as revenue expenditure, contrary to the Assessing Officer's treatment as capital expenditure. Additionally, the ITAT Chennai dismissed the Revenue's appeal regarding the disallowance under section 14A of the Income Tax Act, confirming the CIT(A)'s decision to compute the disallowance based on a 2% ratio of exempt income earned. Case-Laws Income Tax Fri, 18 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325053