https://www.taxtmi.com/caselaws?id=307202 The ITAT allowed the appeals, setting aside the lower authorities' orders that re-characterized business expenses as capital expenditure for brand building. The ITAT held that the expenses were not capital in nature for brand building, citing precedents where similar expenses were treated as revenue expenditure. The appellant's contention that the expenses were revenue in nature and related to a tech start-up with a long gestation period was accepted, resulting in a favorable outcome for the appellant for both assessment years. en-us Thu, 22 Sep 2022 00:00:00 +0530 Sun, 26 Mar 2023 10:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307202 The ITAT allowed the appeals, setting aside the lower authorities' orders that re-characterized business expenses as capital expenditure for brand building. The ITAT held that the expenses were not capital in nature for brand building, citing precedents where similar expenses were treated as revenue expenditure. The appellant's contention that the expenses were revenue in nature and related to a tech start-up with a long gestation period was accepted, resulting in a favorable outcome for the appellant for both assessment years. Case-Laws Income Tax Thu, 22 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307202