https://www.taxtmi.com/caselaws?id=758863 ITAT Mumbai allowed the assessee's appeal regarding club membership fees treatment under section 37(1). The proprietor claimed membership fees as revenue expenditure, arguing the club was used for business promotion, customer connections, and meetings outside business hours. The tribunal relied on precedents from Gujarat HC in Bayer Vapi case and Bombay HC in Swiss Re Services case, concluding the membership expenses were business-related and allowable as revenue expenditure rather than capital expenditure. en-us Mon, 22 Jul 2024 00:00:00 +0530 Thu, 19 Sep 2024 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758863 ITAT Mumbai allowed the assessee's appeal regarding club membership fees treatment under section 37(1). The proprietor claimed membership fees as revenue expenditure, arguing the club was used for business promotion, customer connections, and meetings outside business hours. The tribunal relied on precedents from Gujarat HC in Bayer Vapi case and Bombay HC in Swiss Re Services case, concluding the membership expenses were business-related and allowable as revenue expenditure rather than capital expenditure. Case-Laws Income Tax Mon, 22 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758863