https://www.taxtmi.com/caselaws?id=290304 The Revenue's appeal challenging the deletion of an addition under "short term capital gains" was dismissed by the Tribunal. The Tribunal upheld the CIT(Appeals)' decision that the agricultural land sold did not qualify as a capital asset and was not taxable as capital gains. Regarding the treatment of E-Store Software expenditure and digitalization development charges, the Tribunal ruled in favor of the assessee, treating the expenses as revenue outgo necessary for business operations. The Tribunal also upheld the scaling down of disallowed business promotion expenses, dismissing appeals from both parties. en-us Thu, 26 Sep 2013 00:00:00 +0530 Fri, 18 Sep 2020 12:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290304 The Revenue's appeal challenging the deletion of an addition under "short term capital gains" was dismissed by the Tribunal. The Tribunal upheld the CIT(Appeals)' decision that the agricultural land sold did not qualify as a capital asset and was not taxable as capital gains. Regarding the treatment of E-Store Software expenditure and digitalization development charges, the Tribunal ruled in favor of the assessee, treating the expenses as revenue outgo necessary for business operations. The Tribunal also upheld the scaling down of disallowed business promotion expenses, dismissing appeals from both parties. Case-Laws Income Tax Thu, 26 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290304