https://www.taxtmi.com/caselaws?id=303185 The Tribunal dismissed the Revenue's appeal in a case concerning the disallowance of ISO expenses and the treatment of a subsidy received under the ASIDE scheme. The Tribunal upheld the decisions of the ld. CIT(A) in both issues, considering ISO certification expenses as revenue in nature and the subsidy as capital in nature. It emphasized the distinction between revenue and capital aspects, concluding that the expenses and subsidies were appropriately categorized based on their specific purposes. Therefore, the Tribunal affirmed the orders passed by the ld. CIT(A) in favor of the assessee. en-us Tue, 16 Mar 2021 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303185 The Tribunal dismissed the Revenue's appeal in a case concerning the disallowance of ISO expenses and the treatment of a subsidy received under the ASIDE scheme. The Tribunal upheld the decisions of the ld. CIT(A) in both issues, considering ISO certification expenses as revenue in nature and the subsidy as capital in nature. It emphasized the distinction between revenue and capital aspects, concluding that the expenses and subsidies were appropriately categorized based on their specific purposes. Therefore, the Tribunal affirmed the orders passed by the ld. CIT(A) in favor of the assessee. Case-Laws Income Tax Tue, 16 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303185