https://www.taxtmi.com/caselaws?id=437142 The Tribunal upheld the CIT(A)'s decision to reject the Revenue's challenge regarding the treatment of License Fee as capital expenditure, emphasizing the recurring nature of the fee. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of unexplained creditors under section 41(1), noting that payments were made to creditors in subsequent years and citing the requirement of evidence of debt remission for section 41(1) to apply. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decisions on both issues. en-us Mon, 24 Apr 2023 00:00:00 +0530 Wed, 26 Apr 2023 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437142 The Tribunal upheld the CIT(A)'s decision to reject the Revenue's challenge regarding the treatment of License Fee as capital expenditure, emphasizing the recurring nature of the fee. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of unexplained creditors under section 41(1), noting that payments were made to creditors in subsequent years and citing the requirement of evidence of debt remission for section 41(1) to apply. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decisions on both issues. Case-Laws Income Tax Mon, 24 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437142