https://www.taxtmi.com/caselaws?id=305617 Prior recording of dissatisfaction with an assessee's suo motu disallowance is a jurisdictional precondition before invoking section 14A read with Rule 8D; in its absence, the recomputed disallowance cannot stand and was deleted. Business development expenditure incurred for subscriber retention and promotional schemes, where no new capital asset is created and the spend has a direct business nexus, is revenue in nature and allowable as business expenditure; the disallowance was also deleted. The assessee succeeded on both issues, and the Revenue's challenge failed. en-us Tue, 27 Jul 2021 00:00:00 +0530 Thu, 15 Dec 2022 10:45:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305617 Prior recording of dissatisfaction with an assessee's suo motu disallowance is a jurisdictional precondition before invoking section 14A read with Rule 8D; in its absence, the recomputed disallowance cannot stand and was deleted. Business development expenditure incurred for subscriber retention and promotional schemes, where no new capital asset is created and the spend has a direct business nexus, is revenue in nature and allowable as business expenditure; the disallowance was also deleted. The assessee succeeded on both issues, and the Revenue's challenge failed. Case-Laws Income Tax Tue, 27 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305617