https://www.taxtmi.com/caselaws?id=293384 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s findings that both the R&D expenses and the commitment charges for canceling the foreign currency cover were revenue expenditures allowable under the relevant sections of the Income-tax Act, 1961. The Tribunal emphasized the business purpose and nature of the expenses, aligning with established legal principles and precedents. en-us Thu, 26 Nov 2015 00:00:00 +0530 Tue, 09 Feb 2021 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293384 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s findings that both the R&D expenses and the commitment charges for canceling the foreign currency cover were revenue expenditures allowable under the relevant sections of the Income-tax Act, 1961. The Tribunal emphasized the business purpose and nature of the expenses, aligning with established legal principles and precedents. Case-Laws Income Tax Thu, 26 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293384