https://www.taxtmi.com/caselaws?id=438709 The High Court upheld the Tribunal's decision in a case involving the treatment of expenditure as revenue or capital under the Income Tax Act. The Court emphasized consistency in treating the expenditure as revenue in previous years, noting the lack of fresh material or valid reasons for reopening the assessment. As no income had escaped assessment and the Revenue failed to provide evidence supporting the reopening, the appeal was dismissed with no substantial question of law arising for consideration. en-us Fri, 24 Mar 2023 00:00:00 +0530 Mon, 25 Sep 2023 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438709 The High Court upheld the Tribunal's decision in a case involving the treatment of expenditure as revenue or capital under the Income Tax Act. The Court emphasized consistency in treating the expenditure as revenue in previous years, noting the lack of fresh material or valid reasons for reopening the assessment. As no income had escaped assessment and the Revenue failed to provide evidence supporting the reopening, the appeal was dismissed with no substantial question of law arising for consideration. Case-Laws Income Tax Fri, 24 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438709