https://www.taxtmi.com/caselaws?id=772104 ITAT Mumbai dismissed revenue's appeal regarding disallowance under section 37(1). AO disallowed management fees as revenue expenditure, arguing assessee failed to follow matching principles and expenses should be capitalized for amortization. CIT(A) deleted the addition. ITAT held expenses need only be incurred for business purposes, not profit earning. Revenue-expenditure matching is irrelevant if expenses are business-related and revenue in nature. CIT(A)'s factual findings were undisputed, confirming expenses were allowable regardless of revenue quantum. en-us Mon, 28 Apr 2025 00:00:00 +0530 Wed, 04 Jun 2025 08:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772104 ITAT Mumbai dismissed revenue's appeal regarding disallowance under section 37(1). AO disallowed management fees as revenue expenditure, arguing assessee failed to follow matching principles and expenses should be capitalized for amortization. CIT(A) deleted the addition. ITAT held expenses need only be incurred for business purposes, not profit earning. Revenue-expenditure matching is irrelevant if expenses are business-related and revenue in nature. CIT(A)'s factual findings were undisputed, confirming expenses were allowable regardless of revenue quantum. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772104