https://www.taxtmi.com/caselaws?id=327052 The High Court ruled in favor of the Revenue regarding the provision for breakage in transit, setting aside the ITAT's order. On the issue of brand creation expenditure, the Court sided with the Assessee, following the ITAT's decision to treat the expenses as deferred revenue expenditure rather than capital expenditure. The Court declined to frame a question on this issue. Ultimately, the appeals by the Revenue were disposed of, with the first issue decided in their favor and the second issue resolved in favor of the Assessee. en-us Wed, 06 Apr 2016 00:00:00 +0530 Mon, 02 May 2016 00:36:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327052 The High Court ruled in favor of the Revenue regarding the provision for breakage in transit, setting aside the ITAT's order. On the issue of brand creation expenditure, the Court sided with the Assessee, following the ITAT's decision to treat the expenses as deferred revenue expenditure rather than capital expenditure. The Court declined to frame a question on this issue. Ultimately, the appeals by the Revenue were disposed of, with the first issue decided in their favor and the second issue resolved in favor of the Assessee. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327052