https://www.taxtmi.com/caselaws?id=754874 The Bombay HC dismissed the revenue's appeal on multiple tax issues. Regarding advertisement expenditure, the court applied the consistency principle from Excel Industries Ltd, noting revenue had accepted similar tribunal findings in previous years and could not challenge the same issue subsequently. For VRS payments, the tribunal correctly followed Bhor Industries Ltd precedent treating such payments as revenue expenditure. The court upheld tribunal's decision allowing advances for project development as revenue expenses. On workmen and staff welfare expenses under Section 40A(9), applying Excel Industries principles, the court found no fault in tribunal's favorable ruling for the assessee, having been decided similarly in assessment year 1997-98. en-us Tue, 25 Jun 2024 00:00:00 +0530 Mon, 01 Jul 2024 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754874 The Bombay HC dismissed the revenue's appeal on multiple tax issues. Regarding advertisement expenditure, the court applied the consistency principle from Excel Industries Ltd, noting revenue had accepted similar tribunal findings in previous years and could not challenge the same issue subsequently. For VRS payments, the tribunal correctly followed Bhor Industries Ltd precedent treating such payments as revenue expenditure. The court upheld tribunal's decision allowing advances for project development as revenue expenses. On workmen and staff welfare expenses under Section 40A(9), applying Excel Industries principles, the court found no fault in tribunal's favorable ruling for the assessee, having been decided similarly in assessment year 1997-98. Case-Laws Income Tax Tue, 25 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754874