https://www.taxtmi.com/caselaws?id=196449 The Tribunal ruled in favor of the assessee for both issues, allowing the claimed amounts as revenue expenditures for the respective assessment years. The Department's contentions were dismissed, and the Tribunal held that the expenses were revenue in nature based on the absence of creation of tangible or intangible assets, citing relevant case laws. The Tribunal considered changed circumstances and the acceptance of liability by the assessee for the relevant year, emphasizing the one-time revenue nature of the expenditure for that specific year only. en-us Thu, 15 Sep 2016 00:00:00 +0530 Fri, 01 Dec 2017 07:29:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196449 The Tribunal ruled in favor of the assessee for both issues, allowing the claimed amounts as revenue expenditures for the respective assessment years. The Department's contentions were dismissed, and the Tribunal held that the expenses were revenue in nature based on the absence of creation of tangible or intangible assets, citing relevant case laws. The Tribunal considered changed circumstances and the acceptance of liability by the assessee for the relevant year, emphasizing the one-time revenue nature of the expenditure for that specific year only. Case-Laws Income Tax Thu, 15 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196449