https://www.taxtmi.com/caselaws?id=415187 The Tribunal ruled in favor of the assessee on three main issues: 1) The capital gains from the sale of a flat were treated as long-term, allowing the benefit of indexation. 2) Renovation expenses on leased premises were considered revenue expenditure as they did not involve structural changes. 3) The disallowed foreign travel expenditure for the Managing Director was allowed as it was shown to be for business purposes. The AO was directed to accept the long-term capital gains, treat renovation expenses as revenue, and permit the full foreign travel expenses. en-us Mon, 30 Aug 2021 00:00:00 +0530 Mon, 29 Nov 2021 08:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415187 The Tribunal ruled in favor of the assessee on three main issues: 1) The capital gains from the sale of a flat were treated as long-term, allowing the benefit of indexation. 2) Renovation expenses on leased premises were considered revenue expenditure as they did not involve structural changes. 3) The disallowed foreign travel expenditure for the Managing Director was allowed as it was shown to be for business purposes. The AO was directed to accept the long-term capital gains, treat renovation expenses as revenue, and permit the full foreign travel expenses. Case-Laws Income Tax Mon, 30 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415187