https://www.taxtmi.com/caselaws?id=189944 The High Court upheld the Tribunal's decision in favor of the assessee regarding revenue deduction for fully convertible debentures, emphasizing the admissibility of the expenditure as revenue expenditure despite convertibility into shares. The Court also ruled in favor of the assessee on the issue of interest and financial expenses as revenue expenditures, citing precedents that supported treating debentures as loans, making the expenditure admissible. All appeals by the Department were dismissed, affirming the Tribunal's decisions on both issues. en-us Tue, 20 Sep 2016 00:00:00 +0530 Fri, 27 Jan 2017 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189944 The High Court upheld the Tribunal's decision in favor of the assessee regarding revenue deduction for fully convertible debentures, emphasizing the admissibility of the expenditure as revenue expenditure despite convertibility into shares. The Court also ruled in favor of the assessee on the issue of interest and financial expenses as revenue expenditures, citing precedents that supported treating debentures as loans, making the expenditure admissible. All appeals by the Department were dismissed, affirming the Tribunal's decisions on both issues. Case-Laws Income Tax Tue, 20 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189944