https://www.taxtmi.com/caselaws?id=381910 The Tribunal upheld the CIT(A)'s decision to delete the additions made by the AO and dismissed the Revenue's appeals for the assessment years 2012-13 to 2014-15. It concluded that the Assessee's losses should be accepted, rejecting the AO's classification of the losses as capital expenditure aimed at creating intangible assets. The Tribunal emphasized taxing only actual income accrued, dismissing the AO's presumptions regarding intangible assets. The decision highlighted the importance of evidence in disregarding declared losses or enhancing sale prices. en-us Fri, 14 Jun 2019 00:00:00 +0530 Mon, 05 Aug 2019 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381910 The Tribunal upheld the CIT(A)'s decision to delete the additions made by the AO and dismissed the Revenue's appeals for the assessment years 2012-13 to 2014-15. It concluded that the Assessee's losses should be accepted, rejecting the AO's classification of the losses as capital expenditure aimed at creating intangible assets. The Tribunal emphasized taxing only actual income accrued, dismissing the AO's presumptions regarding intangible assets. The decision highlighted the importance of evidence in disregarding declared losses or enhancing sale prices. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381910