https://www.taxtmi.com/caselaws?id=378330 The Tribunal dismissed both Revenue's appeal and the assessee's Cross Objections for Assessment Year 2008-09, upholding the CIT(A)'s order that treated the expenditure as revenue in nature despite being capitalized in the books of account. The Tribunal emphasized that the determination of the nature of expenditure should be based on the provisions of the Income Tax Act and not merely on accounting treatments. en-us Wed, 10 Apr 2019 00:00:00 +0530 Fri, 12 Apr 2019 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378330 The Tribunal dismissed both Revenue's appeal and the assessee's Cross Objections for Assessment Year 2008-09, upholding the CIT(A)'s order that treated the expenditure as revenue in nature despite being capitalized in the books of account. The Tribunal emphasized that the determination of the nature of expenditure should be based on the provisions of the Income Tax Act and not merely on accounting treatments. Case-Laws Income Tax Wed, 10 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378330