https://www.taxtmi.com/caselaws?id=416883 The Tribunal dismissed the AO's appeals for Assessment Years 2010-11 and 2011-12, upholding the CIT(A)'s decisions that the legal fees expenditure claimed by the assessee was revenue in nature. The expenditure was deemed essential for protecting intellectual property rights and not resulting in enduring benefits, as it was primarily for safeguarding business and intellectual rights. The disallowance of the expenditure as capital was overturned, emphasizing the immediate benefits derived from the legal and professional charges incurred by the assessee in the manufacturing and trading of Nutraceuticals products. en-us Fri, 07 Jan 2022 00:00:00 +0530 Mon, 10 Jan 2022 09:01:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416883 The Tribunal dismissed the AO's appeals for Assessment Years 2010-11 and 2011-12, upholding the CIT(A)'s decisions that the legal fees expenditure claimed by the assessee was revenue in nature. The expenditure was deemed essential for protecting intellectual property rights and not resulting in enduring benefits, as it was primarily for safeguarding business and intellectual rights. The disallowance of the expenditure as capital was overturned, emphasizing the immediate benefits derived from the legal and professional charges incurred by the assessee in the manufacturing and trading of Nutraceuticals products. Case-Laws Income Tax Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416883