https://www.taxtmi.com/caselaws?id=461084 Recurring telecommunication line costs incurred for business operations, supported by monthly charges and connectivity invoices, were held to be revenue expenditure because they did not create an enduring asset or advantage, and the disallowance was deleted. Foreign exchange loss on year-end restatement of monetary items, including receivables and balances, was allowable as revenue expenditure when computed under the prescribed foreign exchange fluctuation standards, and the disallowance was deleted. The miscellaneous expenditure claim was not finally decided on merits and was remanded for fresh verification, with the assessee to furnish supporting particulars. en-us Mon, 25 Jul 2022 00:00:00 +0530 Wed, 12 Mar 2025 09:06:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461084 Recurring telecommunication line costs incurred for business operations, supported by monthly charges and connectivity invoices, were held to be revenue expenditure because they did not create an enduring asset or advantage, and the disallowance was deleted. Foreign exchange loss on year-end restatement of monetary items, including receivables and balances, was allowable as revenue expenditure when computed under the prescribed foreign exchange fluctuation standards, and the disallowance was deleted. The miscellaneous expenditure claim was not finally decided on merits and was remanded for fresh verification, with the assessee to furnish supporting particulars. Case-Laws Income Tax Mon, 25 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461084