https://www.taxtmi.com/caselaws?id=404355 The Tribunal held that the payment of Rs. 30.86 crores made by the assessee to ITC Ltd. should be treated as revenue expenditure under Section 37 of the IT Act. The payment was deemed necessary for business operations and did not result in any capital asset addition. The Tribunal dismissed the Revenue's appeal, affirming the treatment of the payment as revenue expenditure and classifying the income as business income. The decision was rendered on 16th February 2021. en-us Tue, 16 Feb 2021 00:00:00 +0530 Mon, 22 Feb 2021 09:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404355 The Tribunal held that the payment of Rs. 30.86 crores made by the assessee to ITC Ltd. should be treated as revenue expenditure under Section 37 of the IT Act. The payment was deemed necessary for business operations and did not result in any capital asset addition. The Tribunal dismissed the Revenue's appeal, affirming the treatment of the payment as revenue expenditure and classifying the income as business income. The decision was rendered on 16th February 2021. Case-Laws Income Tax Tue, 16 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404355