https://www.taxtmi.com/caselaws?id=328290 The court ruled in favor of the assessee, allowing the deduction of Rs. 67,50,000 as revenue expenditure over 11 years. The payment was made to facilitate the reconstruction of the premises after a fire incident, enabling the assessee to continue business operations. The court emphasized that such expenditures, aimed at removing obstacles hindering business, qualify as revenue expenditures. Despite the initial misunderstanding by the Tribunal, the court clarified the nature of the payment and granted the deduction in line with legal precedent. The appeal was allowed, affirming the deductibility of the expenditure over an extended period. en-us Mon, 16 May 2016 00:00:00 +0530 Tue, 31 May 2016 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328290 The court ruled in favor of the assessee, allowing the deduction of Rs. 67,50,000 as revenue expenditure over 11 years. The payment was made to facilitate the reconstruction of the premises after a fire incident, enabling the assessee to continue business operations. The court emphasized that such expenditures, aimed at removing obstacles hindering business, qualify as revenue expenditures. Despite the initial misunderstanding by the Tribunal, the court clarified the nature of the payment and granted the deduction in line with legal precedent. The appeal was allowed, affirming the deductibility of the expenditure over an extended period. Case-Laws Income Tax Mon, 16 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328290