https://www.taxtmi.com/caselaws?id=354050 The Tribunal concluded that the franchise fee of Rs. 30,03,60,000/- was a revenue expenditure, allowing the assessee's claim. However, the disallowance of Rs. 7,50,90,000/- for IPL Season-2 was upheld due to the fee not crystallizing within the relevant financial year. Payments to Kolkata Police Family Welfare Centre and Mr. John Buchanan were allowed as genuine business expenses. Expenses for boarding, lodging, and food were permitted, but some bills were remanded for verification. The Tribunal directed verification of airfare, traveling, and vehicle hire charges. Security charges for VIPs were allowed, while fashion show participation expenses were permitted. Website design charges were remanded for reassessment by the AO. en-us Fri, 29 Dec 2017 00:00:00 +0530 Wed, 17 Jan 2018 12:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354050 The Tribunal concluded that the franchise fee of Rs. 30,03,60,000/- was a revenue expenditure, allowing the assessee's claim. However, the disallowance of Rs. 7,50,90,000/- for IPL Season-2 was upheld due to the fee not crystallizing within the relevant financial year. Payments to Kolkata Police Family Welfare Centre and Mr. John Buchanan were allowed as genuine business expenses. Expenses for boarding, lodging, and food were permitted, but some bills were remanded for verification. The Tribunal directed verification of airfare, traveling, and vehicle hire charges. Security charges for VIPs were allowed, while fashion show participation expenses were permitted. Website design charges were remanded for reassessment by the AO. Case-Laws Income Tax Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354050