https://www.taxtmi.com/caselaws?id=327445 The ITAT Mumbai partially allowed the appeal, overturning the disallowance of leasehold improvement expenditure and the addition on account of transfer pricing adjustment. The tribunal held that the leasehold improvement expenditure qualified as revenue expenditure under section 30(a)(i) due to its nature and limited useful life. Additionally, the tribunal found the transfer pricing adjustment unjustified based on the essential nature of the services for business activity, in line with a previous decision in the appellant's favor. en-us Thu, 31 Mar 2016 00:00:00 +0530 Wed, 11 May 2016 10:42:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327445 The ITAT Mumbai partially allowed the appeal, overturning the disallowance of leasehold improvement expenditure and the addition on account of transfer pricing adjustment. The tribunal held that the leasehold improvement expenditure qualified as revenue expenditure under section 30(a)(i) due to its nature and limited useful life. Additionally, the tribunal found the transfer pricing adjustment unjustified based on the essential nature of the services for business activity, in line with a previous decision in the appellant's favor. Case-Laws Income Tax Thu, 31 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327445