https://www.taxtmi.com/caselaws?id=415677 The Tribunal upheld the CIT (Appeals)'s decision to classify advertisement, publicity, and business promotion expenses as revenue expenditure, rejecting the AO's claim of capital nature. The expenses were deemed essential for the competitive e-commerce business without creating fixed capital assets. Relying on judicial precedents, including High Court judgments, the Tribunal found no merit in the AO's arguments and deleted the addition of Rs. 29,45,50,223/-. The decision emphasized the necessity and revenue nature of such expenses for efficient business operations in the competitive market. en-us Wed, 10 Nov 2021 00:00:00 +0530 Sat, 11 Dec 2021 09:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415677 The Tribunal upheld the CIT (Appeals)'s decision to classify advertisement, publicity, and business promotion expenses as revenue expenditure, rejecting the AO's claim of capital nature. The expenses were deemed essential for the competitive e-commerce business without creating fixed capital assets. Relying on judicial precedents, including High Court judgments, the Tribunal found no merit in the AO's arguments and deleted the addition of Rs. 29,45,50,223/-. The decision emphasized the necessity and revenue nature of such expenses for efficient business operations in the competitive market. Case-Laws Income Tax Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415677