https://www.taxtmi.com/caselaws?id=302119 The Tribunal addressed the computation of income under section 115JB of the Income-tax Act, 1961, and the disallowance of expenditure for acquiring an intangible asset, specifically a logo. It held that the Assessing Officer needed to reexamine all investments made by the assessee for proper disallowance calculation and confirmed that the payment for using the logo was an allowable business expenditure under section 37(1) of the Act. The appeal of the Revenue was partly allowed for statistical purposes. en-us Fri, 29 Jul 2016 00:00:00 +0530 Thu, 05 May 2022 20:59:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302119 The Tribunal addressed the computation of income under section 115JB of the Income-tax Act, 1961, and the disallowance of expenditure for acquiring an intangible asset, specifically a logo. It held that the Assessing Officer needed to reexamine all investments made by the assessee for proper disallowance calculation and confirmed that the payment for using the logo was an allowable business expenditure under section 37(1) of the Act. The appeal of the Revenue was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302119