https://www.taxtmi.com/caselaws?id=401972 The ITAT Mumbai allowed the appeal on the disallowance of expenses for a tenancy agreement, determining them as revenue in nature and not capital expenditure. The tribunal directed the Assessing Officer to delete the addition based on the terms of the tenancy agreement. Regarding the disallowance of expenditure related to the chemical business, the ITAT decided to restore the issue for fresh adjudication, emphasizing the requirement for evidence supporting the claim of business continuity. The appeal was partly allowed on this ground for statistical purposes. en-us Mon, 14 Dec 2020 00:00:00 +0530 Mon, 21 Dec 2020 12:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401972 The ITAT Mumbai allowed the appeal on the disallowance of expenses for a tenancy agreement, determining them as revenue in nature and not capital expenditure. The tribunal directed the Assessing Officer to delete the addition based on the terms of the tenancy agreement. Regarding the disallowance of expenditure related to the chemical business, the ITAT decided to restore the issue for fresh adjudication, emphasizing the requirement for evidence supporting the claim of business continuity. The appeal was partly allowed on this ground for statistical purposes. Case-Laws Income Tax Mon, 14 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401972