https://www.taxtmi.com/caselaws?id=331033 The Tribunal partially allowed the appeals concerning the treatment of professional charges for issuing debentures. It remitted the issue back to the Assessing Officer for fresh assessment in accordance with the High Court's judgment, emphasizing that discounts and premiums on debentures should be considered revenue expenditure. The Tribunal upheld the Commissioner's invocation of section 263, highlighting the need for reasoned and legally sound assessment orders. The analysis of relevant case laws supported the appellant's position, leading to a partial allowance of the appeals for further assessment. en-us Wed, 29 Jun 2016 00:00:00 +0530 Wed, 10 Aug 2016 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331033 The Tribunal partially allowed the appeals concerning the treatment of professional charges for issuing debentures. It remitted the issue back to the Assessing Officer for fresh assessment in accordance with the High Court's judgment, emphasizing that discounts and premiums on debentures should be considered revenue expenditure. The Tribunal upheld the Commissioner's invocation of section 263, highlighting the need for reasoned and legally sound assessment orders. The analysis of relevant case laws supported the appellant's position, leading to a partial allowance of the appeals for further assessment. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331033