https://www.taxtmi.com/caselaws?id=407670 The Tribunal determined that the payments to Lakme Ltd. and Lakme Exports Ltd. constituted revenue expenditures under section 37(1) of the Income-tax Act, 1961. It was held that the payments were for aligning marketing operations to increase profitability without acquiring any capital assets. The appeal by the assessee was allowed, overturning the CIT(A)'s decision. The Tribunal emphasized that the strategic alliance aimed to reduce competition and marketing costs, enhancing business efficiency and profitability. en-us Mon, 10 May 2021 00:00:00 +0530 Tue, 18 May 2021 08:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407670 The Tribunal determined that the payments to Lakme Ltd. and Lakme Exports Ltd. constituted revenue expenditures under section 37(1) of the Income-tax Act, 1961. It was held that the payments were for aligning marketing operations to increase profitability without acquiring any capital assets. The appeal by the assessee was allowed, overturning the CIT(A)'s decision. The Tribunal emphasized that the strategic alliance aimed to reduce competition and marketing costs, enhancing business efficiency and profitability. Case-Laws Income Tax Mon, 10 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407670