https://www.taxtmi.com/caselaws?id=403438 The Tribunal ruled in favor of the assessee, determining that the expenses were revenue in nature and not capital expenditures, as they did not provide enduring benefits or result in acquiring a capital asset. The Tribunal directed the Assessing Officer to allow the deductions claimed by the assessee, following the precedent set by the Delhi High Court. As a result, both appeals filed by the assessee for the assessment years 2013-14 and 2014-15 were allowed, emphasizing that the nature of the expenses, rather than their accounting treatment, governs their deductibility for tax purposes. en-us Wed, 20 Jan 2021 00:00:00 +0530 Fri, 29 Jan 2021 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403438 The Tribunal ruled in favor of the assessee, determining that the expenses were revenue in nature and not capital expenditures, as they did not provide enduring benefits or result in acquiring a capital asset. The Tribunal directed the Assessing Officer to allow the deductions claimed by the assessee, following the precedent set by the Delhi High Court. As a result, both appeals filed by the assessee for the assessment years 2013-14 and 2014-15 were allowed, emphasizing that the nature of the expenses, rather than their accounting treatment, governs their deductibility for tax purposes. Case-Laws Income Tax Wed, 20 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403438