https://www.taxtmi.com/caselaws?id=333148 The High Court dismissed the appeal challenging the order of the Income Tax Appellate Tribunal regarding the treatment of expenses related to Foreign Currency Convertible Bonds (FCCBs) as revenue or capital expenditure for Assessment Year 2006-07. The Court upheld the Tribunal's decision that the expenses were revenue in nature and deductible in full in the year incurred, citing a previous case precedent. As the Revenue had accepted the precedent without challenge, the Court found no substantial question of law and dismissed the appeal without costs. en-us Wed, 21 Sep 2016 00:00:00 +0530 Tue, 04 Oct 2016 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333148 The High Court dismissed the appeal challenging the order of the Income Tax Appellate Tribunal regarding the treatment of expenses related to Foreign Currency Convertible Bonds (FCCBs) as revenue or capital expenditure for Assessment Year 2006-07. The Court upheld the Tribunal's decision that the expenses were revenue in nature and deductible in full in the year incurred, citing a previous case precedent. As the Revenue had accepted the precedent without challenge, the Court found no substantial question of law and dismissed the appeal without costs. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333148