https://www.taxtmi.com/caselaws?id=439153 The ITAT upheld the CIT(A)'s decision to delete the addition of production development expenses treated as capital expenditure by the AO for the assessment year 2014-15. The ITAT found in favor of the assessee, a limited company engaged in manufacturing, citing past practices and lack of evidence challenging the genuineness of the expenses. The Revenue's appeal was dismissed, affirming the treatment of expenses as revenue expenditure. en-us Wed, 14 Jun 2023 00:00:00 +0530 Fri, 16 Jun 2023 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439153 The ITAT upheld the CIT(A)'s decision to delete the addition of production development expenses treated as capital expenditure by the AO for the assessment year 2014-15. The ITAT found in favor of the assessee, a limited company engaged in manufacturing, citing past practices and lack of evidence challenging the genuineness of the expenses. The Revenue's appeal was dismissed, affirming the treatment of expenses as revenue expenditure. Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439153