https://www.taxtmi.com/caselaws?id=396505 The Income Tax Appellate Tribunal (ITAT) allowed the assessee's appeal in a tax matter. The ITAT directed the deletion of disallowed expenses for professional, miscellaneous, and travel expenses, as well as reclassified stamp duty paid on leased business premises as revenue expenditure. The ITAT's decision was based on the provisions being legitimate business expenses and in line with accounting practices. The interest charged under section 234B of the Income Tax Act would need to be recalculated following the revised taxable income resulting from the successful appeal. en-us Fri, 03 Jul 2020 00:00:00 +0530 Wed, 08 Jul 2020 11:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396505 The Income Tax Appellate Tribunal (ITAT) allowed the assessee's appeal in a tax matter. The ITAT directed the deletion of disallowed expenses for professional, miscellaneous, and travel expenses, as well as reclassified stamp duty paid on leased business premises as revenue expenditure. The ITAT's decision was based on the provisions being legitimate business expenses and in line with accounting practices. The interest charged under section 234B of the Income Tax Act would need to be recalculated following the revised taxable income resulting from the successful appeal. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396505