https://www.taxtmi.com/caselaws?id=303843 The Tribunal upheld the decisions of the CIT(A) in both appeals, dismissing the Revenue's appeals and confirming the treatment of interest expenses and trade mark payments as allowable deductions or revenue expenditures, as appropriate. The disallowance of interest expenses to Naksha Impex was overturned as the borrowed money was used for business purposes. Similarly, the payment to Vishnu & Company Trade Mark Pvt. Ltd. was deemed revenue expenditure, not capital, as it was not for acquiring technical know-how. The Tribunal also dismissed the challenge regarding Trade Mark License Utilization as revenue expenditure based on a previous decision. en-us Thu, 06 Apr 2017 00:00:00 +0530 Sat, 20 Aug 2022 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303843 The Tribunal upheld the decisions of the CIT(A) in both appeals, dismissing the Revenue's appeals and confirming the treatment of interest expenses and trade mark payments as allowable deductions or revenue expenditures, as appropriate. The disallowance of interest expenses to Naksha Impex was overturned as the borrowed money was used for business purposes. Similarly, the payment to Vishnu & Company Trade Mark Pvt. Ltd. was deemed revenue expenditure, not capital, as it was not for acquiring technical know-how. The Tribunal also dismissed the challenge regarding Trade Mark License Utilization as revenue expenditure based on a previous decision. Case-Laws Income Tax Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303843