https://www.taxtmi.com/caselaws?id=409735 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the entire brokerage expenditure in the year it was incurred. It emphasized that the concept of deferred revenue expenditure is not recognized under the Income Tax Act and that the revenue matching principle cannot be imposed to defer expenditure against the assessee's claim. The decision was based on established judicial precedents, including the Supreme Court's rulings in Taparia Tools Ltd. and Empire Jute Co. Ltd. en-us Tue, 13 Jul 2021 00:00:00 +0530 Thu, 15 Jul 2021 08:04:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409735 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the entire brokerage expenditure in the year it was incurred. It emphasized that the concept of deferred revenue expenditure is not recognized under the Income Tax Act and that the revenue matching principle cannot be imposed to defer expenditure against the assessee's claim. The decision was based on established judicial precedents, including the Supreme Court's rulings in Taparia Tools Ltd. and Empire Jute Co. Ltd. Case-Laws Income Tax Tue, 13 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409735