https://www.taxtmi.com/caselaws?id=301709 The Tribunal upheld the CIT(A)'s decision to allow the royalty payment as revenue expenditure under section 37(1) of the Income Tax Act. It concluded that the payment for using the unique logo of Shriram Ownership Trust, necessary for the assessee's business, and based on turnover, was justified as revenue expenditure. The appeal of the Revenue was dismissed, affirming the treatment of the royalty payment as a deductible expense for the assessee. en-us Fri, 29 Jul 2016 00:00:00 +0530 Sun, 17 Apr 2022 19:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301709 The Tribunal upheld the CIT(A)'s decision to allow the royalty payment as revenue expenditure under section 37(1) of the Income Tax Act. It concluded that the payment for using the unique logo of Shriram Ownership Trust, necessary for the assessee's business, and based on turnover, was justified as revenue expenditure. The appeal of the Revenue was dismissed, affirming the treatment of the royalty payment as a deductible expense for the assessee. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301709