https://www.taxtmi.com/caselaws?id=186458 The Tribunal allowed the VRS expenditure for Jamshedpur and Jammu Units as revenue expenditure, overturning the disallowance by the A.O. and CIT(A). The expenditure was considered part of a business restructuring project, benefiting the overall business despite the closure of specific units. The Tribunal held that the expenditure was incurred in the course of business restructuring and should be allowed as revenue expenditure under section 37(1) of the Act. The appeal was decided in favor of the assessee, emphasizing the interconnected nature of the business despite independent units. en-us Fri, 26 Mar 2010 00:00:00 +0530 Mon, 19 Sep 2016 17:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186458 The Tribunal allowed the VRS expenditure for Jamshedpur and Jammu Units as revenue expenditure, overturning the disallowance by the A.O. and CIT(A). The expenditure was considered part of a business restructuring project, benefiting the overall business despite the closure of specific units. The Tribunal held that the expenditure was incurred in the course of business restructuring and should be allowed as revenue expenditure under section 37(1) of the Act. The appeal was decided in favor of the assessee, emphasizing the interconnected nature of the business despite independent units. Case-Laws Income Tax Fri, 26 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186458