https://www.taxtmi.com/caselaws?id=429950 The appeal, initially deemed time-barred due to lockdown restrictions during the Covid-19 pandemic, was later admitted for adjudication on merits by the Tribunal after a delay of 16 days. Regarding the classification of expenditure under "Furniture Maintenance," the Tribunal overturned the decision of the Commissioner and directed the Assessing Officer to treat the expenditure as revenue in nature, emphasizing the functional nature of expenses for leasehold premises. The judgment underscores the significance of providing adequate justification for expenditure classifications and aligning decisions with judicial precedents. en-us Wed, 19 Oct 2022 00:00:00 +0530 Mon, 07 Nov 2022 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429950 The appeal, initially deemed time-barred due to lockdown restrictions during the Covid-19 pandemic, was later admitted for adjudication on merits by the Tribunal after a delay of 16 days. Regarding the classification of expenditure under "Furniture Maintenance," the Tribunal overturned the decision of the Commissioner and directed the Assessing Officer to treat the expenditure as revenue in nature, emphasizing the functional nature of expenses for leasehold premises. The judgment underscores the significance of providing adequate justification for expenditure classifications and aligning decisions with judicial precedents. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429950