https://www.taxtmi.com/caselaws?id=444813 The Tribunal in ITA No. 6265/Del/2019 for AY 2016-17 reversed the disallowance of Rs. 1,00,89,351/- as capital expenditure by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). Citing precedents from the Karnataka HC and Rajasthan HC, the Tribunal ruled that the due diligence expenses related to the acquisition of Samudra Hatcheries Pvt. Ltd should be treated as revenue expenditure. Consequently, the Tribunal directed the Assessing Officer to allow the deduction for the due diligence fees, thereby favoring the assessee. en-us Fri, 20 Oct 2023 00:00:00 +0530 Mon, 23 Oct 2023 08:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444813 The Tribunal in ITA No. 6265/Del/2019 for AY 2016-17 reversed the disallowance of Rs. 1,00,89,351/- as capital expenditure by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). Citing precedents from the Karnataka HC and Rajasthan HC, the Tribunal ruled that the due diligence expenses related to the acquisition of Samudra Hatcheries Pvt. Ltd should be treated as revenue expenditure. Consequently, the Tribunal directed the Assessing Officer to allow the deduction for the due diligence fees, thereby favoring the assessee. Case-Laws Income Tax Fri, 20 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444813