https://www.taxtmi.com/caselaws?id=374032 The ITAT dismissed the Revenue's appeal and allowed the cross objection of the assessee in a case concerning various tax treatment issues. It upheld the CIT(A)'s decision to treat excess/short amounts from consignees as a business loss, directed distributor's commission and incentive to be treated as revenue expenditure, clarified that freight and cartage outward should be considered revenue expenditure, and disallowed handling charges as capital expenditure. The ITAT also ordered the deletion of a penalty due to the removal of the foundation in the assessment, emphasizing the principle of "Sublato Fundamento Cadit Opus." en-us Fri, 18 Jan 2019 00:00:00 +0530 Thu, 24 Jan 2019 07:28:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374032 The ITAT dismissed the Revenue's appeal and allowed the cross objection of the assessee in a case concerning various tax treatment issues. It upheld the CIT(A)'s decision to treat excess/short amounts from consignees as a business loss, directed distributor's commission and incentive to be treated as revenue expenditure, clarified that freight and cartage outward should be considered revenue expenditure, and disallowed handling charges as capital expenditure. The ITAT also ordered the deletion of a penalty due to the removal of the foundation in the assessment, emphasizing the principle of "Sublato Fundamento Cadit Opus." Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374032