https://www.taxtmi.com/caselaws?id=383011 The Bombay High Court affirmed the Income Tax Appellate Tribunal's decision that a contribution made by the Assessee for the construction of the Usgao bridge constituted revenue expenditure during the assessment year 2008-09. The Court held that the expenditure aimed at enhancing business efficiency without altering fixed capital, aligning with principles from relevant case law. The Court emphasized that the expenditure provided operational advantages rather than acquiring permanent assets, thus qualifying as revenue expenditure. The Appeal was dismissed, with the Court finding no substantial question of law necessitating further consideration. en-us Tue, 09 Jul 2019 00:00:00 +0530 Sat, 13 Jul 2019 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383011 The Bombay High Court affirmed the Income Tax Appellate Tribunal's decision that a contribution made by the Assessee for the construction of the Usgao bridge constituted revenue expenditure during the assessment year 2008-09. The Court held that the expenditure aimed at enhancing business efficiency without altering fixed capital, aligning with principles from relevant case law. The Court emphasized that the expenditure provided operational advantages rather than acquiring permanent assets, thus qualifying as revenue expenditure. The Appeal was dismissed, with the Court finding no substantial question of law necessitating further consideration. Case-Laws Income Tax Tue, 09 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383011