https://www.taxtmi.com/caselaws?id=193301 The High Court upheld the ITAT's decision to dismiss the appeal regarding the deletion of disallowance of capital expenditure on initial issue expenditure on mutual funds and professional and legal charges. The Court agreed with the ITAT's findings that the expenses were revenue in nature, not resulting in the creation of any capital asset or long-lasting benefit. The Court also noted that the expenses were directly related to the assessee's asset management business and were not linked to the mutual fund schemes. The appeal was dismissed as no substantial question of law was found based on the Tribunal's reasoning and the specific circumstances of the case. en-us Wed, 10 Dec 2008 00:00:00 +0530 Sat, 22 Jul 2017 12:39:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193301 The High Court upheld the ITAT's decision to dismiss the appeal regarding the deletion of disallowance of capital expenditure on initial issue expenditure on mutual funds and professional and legal charges. The Court agreed with the ITAT's findings that the expenses were revenue in nature, not resulting in the creation of any capital asset or long-lasting benefit. The Court also noted that the expenses were directly related to the assessee's asset management business and were not linked to the mutual fund schemes. The appeal was dismissed as no substantial question of law was found based on the Tribunal's reasoning and the specific circumstances of the case. Case-Laws Income Tax Wed, 10 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193301