https://www.taxtmi.com/caselaws?id=345309 The Tribunal upheld the CIT (A)'s decision, ruling against the Revenue, as market research expenses were deemed not eligible for amortization under section 35D(2)(a)(iii) of the Income-tax Act, 1961. The expenses were considered essential for day-to-day operations and did not provide enduring benefits related to business extension or setting up a new unit. The Tribunal found that the consultants' contributions led to immediate revenue increases, indicating the expenses' immediate impact rather than long-term benefits. Therefore, the Revenue's appeal was dismissed. en-us Tue, 24 Jan 2017 00:00:00 +0530 Thu, 13 Jul 2017 07:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345309 The Tribunal upheld the CIT (A)'s decision, ruling against the Revenue, as market research expenses were deemed not eligible for amortization under section 35D(2)(a)(iii) of the Income-tax Act, 1961. The expenses were considered essential for day-to-day operations and did not provide enduring benefits related to business extension or setting up a new unit. The Tribunal found that the consultants' contributions led to immediate revenue increases, indicating the expenses' immediate impact rather than long-term benefits. Therefore, the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345309