https://www.taxtmi.com/caselaws?id=341999 The High Court ruled in favor of the Assessee regarding the reduction of broken bottles from the written down value for short-term capital gains calculation, as the breakages had already been accounted for. Additionally, the Court allowed the treatment of lease compensation charges as revenue expenditure under Sections 36(1)(iii) and 37(1) of the Income Tax Act. However, the Court held that the amount received for goodwill should be taxed in the assessment year 1999-2000 rather than in AY 2002-03. Substantial Questions 1 and 2 were answered in favor of the Assessee, while Substantial Question 3 was decided in favor of the Revenue. en-us Wed, 12 Apr 2017 00:00:00 +0530 Wed, 30 Aug 2017 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341999 The High Court ruled in favor of the Assessee regarding the reduction of broken bottles from the written down value for short-term capital gains calculation, as the breakages had already been accounted for. Additionally, the Court allowed the treatment of lease compensation charges as revenue expenditure under Sections 36(1)(iii) and 37(1) of the Income Tax Act. However, the Court held that the amount received for goodwill should be taxed in the assessment year 1999-2000 rather than in AY 2002-03. Substantial Questions 1 and 2 were answered in favor of the Assessee, while Substantial Question 3 was decided in favor of the Revenue. Case-Laws Income Tax Wed, 12 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341999