https://www.taxtmi.com/caselaws?id=443532 Travelling, exhibition, marketing and telephone expenses incurred after a manufacturing business was set up were held to be revenue expenditure because they were incurred in the ordinary course to develop the market and did not create any capital asset. Their treatment as deferred revenue expenditure in the books did not control income-tax computation, so otherwise allowable expenditure could not be denied merely on account of accounting entries. The disallowance was unsustainable and had to be deleted. en-us Thu, 06 Jul 2023 00:00:00 +0530 Mon, 25 Sep 2023 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443532 Travelling, exhibition, marketing and telephone expenses incurred after a manufacturing business was set up were held to be revenue expenditure because they were incurred in the ordinary course to develop the market and did not create any capital asset. Their treatment as deferred revenue expenditure in the books did not control income-tax computation, so otherwise allowable expenditure could not be denied merely on account of accounting entries. The disallowance was unsustainable and had to be deleted. Case-Laws Income Tax Thu, 06 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443532