https://www.taxtmi.com/caselaws?id=435670 The appeal by the revenue regarding the excess claim of expenses for the purchase of steel rolls as revenue expenditure was dismissed. The High Court upheld the Tribunal's decision, stating that the expenses for the steel rolling machine were revenue expenditure. Additionally, the Tribunal's deletion of the addition of deemed dividend under specific sections of the Income Tax Act was upheld, with the Court finding no reason to interfere. Consequently, the revenue's appeal for the assessment years 2005-06 and 2006-07 was dismissed, with the substantial questions of law answered against the revenue. en-us Thu, 16 Mar 2023 00:00:00 +0530 Fri, 24 Mar 2023 09:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435670 The appeal by the revenue regarding the excess claim of expenses for the purchase of steel rolls as revenue expenditure was dismissed. The High Court upheld the Tribunal's decision, stating that the expenses for the steel rolling machine were revenue expenditure. Additionally, the Tribunal's deletion of the addition of deemed dividend under specific sections of the Income Tax Act was upheld, with the Court finding no reason to interfere. Consequently, the revenue's appeal for the assessment years 2005-06 and 2006-07 was dismissed, with the substantial questions of law answered against the revenue. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435670