https://www.taxtmi.com/caselaws?id=380582 Legal and professional fees paid to a marketing and PR consultant and the holding company were held allowable as business expenditure because the assessee showed the payments were for services connected with its advertising business, relevant project receipts were recorded, and prior-year acceptance supported the claim; the revenue's objection that fresh evidence was wrongly admitted was also unsupported. Sundry creditors were not taxable under section 41(1) because a substantial part of the balances had been paid during the year and the remainder in the next year, with no evidence of remission or cessation of liability. The revenue's appeal failed and the appellate relief was sustained. en-us Thu, 16 May 2019 00:00:00 +0530 Thu, 23 May 2019 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380582 Legal and professional fees paid to a marketing and PR consultant and the holding company were held allowable as business expenditure because the assessee showed the payments were for services connected with its advertising business, relevant project receipts were recorded, and prior-year acceptance supported the claim; the revenue's objection that fresh evidence was wrongly admitted was also unsupported. Sundry creditors were not taxable under section 41(1) because a substantial part of the balances had been paid during the year and the remainder in the next year, with no evidence of remission or cessation of liability. The revenue's appeal failed and the appellate relief was sustained. Case-Laws Income Tax Thu, 16 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380582