https://www.taxtmi.com/caselaws?id=424477 The Hon'ble Madras High Court set aside the issue of amortization of capital expenditure to the Income Tax Appellate Tribunal for fresh adjudication, directing a decision on its merits. The Assessing Officer disallowed amortization expenses, but the CIT(A) allowed them as revenue expenditure. The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. The Tribunal also upheld the CIT(A)'s decision on the allowability of expenses on the acquisition of business facilities, leading to the dismissal of the Revenue's appeals. en-us Wed, 29 Jun 2022 00:00:00 +0530 Fri, 01 Jul 2022 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424477 The Hon'ble Madras High Court set aside the issue of amortization of capital expenditure to the Income Tax Appellate Tribunal for fresh adjudication, directing a decision on its merits. The Assessing Officer disallowed amortization expenses, but the CIT(A) allowed them as revenue expenditure. The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. The Tribunal also upheld the CIT(A)'s decision on the allowability of expenses on the acquisition of business facilities, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424477