https://www.taxtmi.com/caselaws?id=429826 The High Court upheld the ITAT's decision that the Assessee's expenses for advertisement, business promotion, brokerage, commission, and software development were revenue expenditure, not capital. The expenses were considered general administration and selling costs, following ICAI guidelines. The Court rejected the Revenue's argument to capitalize the expenses, emphasizing they were not project-specific costs. The appeal was dismissed as no significant legal issue was identified. en-us Thu, 13 Oct 2022 00:00:00 +0530 Fri, 04 Nov 2022 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429826 The High Court upheld the ITAT's decision that the Assessee's expenses for advertisement, business promotion, brokerage, commission, and software development were revenue expenditure, not capital. The expenses were considered general administration and selling costs, following ICAI guidelines. The Court rejected the Revenue's argument to capitalize the expenses, emphasizing they were not project-specific costs. The appeal was dismissed as no significant legal issue was identified. Case-Laws Income Tax Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429826