https://www.taxtmi.com/caselaws?id=194670 The Revenue's appeal challenging the classification of expenditure on creating new cabins in a business center as revenue rather than capital was dismissed. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity of the expenses for business operations and the absence of enduring benefits. Additionally, the disallowance of prior period expenses by the AO was overturned, with the Tribunal agreeing that the liability crystallized in the current year justified allowing the expenses. All appeals by the Revenue were dismissed, affirming the decisions of the lower authorities in favor of the assessee. en-us Thu, 02 Jul 2015 00:00:00 +0530 Tue, 19 Sep 2017 10:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194670 The Revenue's appeal challenging the classification of expenditure on creating new cabins in a business center as revenue rather than capital was dismissed. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity of the expenses for business operations and the absence of enduring benefits. Additionally, the disallowance of prior period expenses by the AO was overturned, with the Tribunal agreeing that the liability crystallized in the current year justified allowing the expenses. All appeals by the Revenue were dismissed, affirming the decisions of the lower authorities in favor of the assessee. Case-Laws Income Tax Thu, 02 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194670