https://www.taxtmi.com/caselaws?id=59697 The Tribunal upheld the capital nature of the trade mark payment, dismissing the assessee's claim of it being revenue expenditure. Regarding the inclusion of Cenvat credit in closing stock valuation, the Tribunal remitted the matter back to the AO for recomputation in compliance with s. 145A of the IT Act, allowing deductions under certain conditions. The appeal was partly allowed, with the Tribunal providing specific directions on each issue. en-us Fri, 23 Jan 2009 00:00:00 +0530 Fri, 31 Dec 2010 15:15:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59697 The Tribunal upheld the capital nature of the trade mark payment, dismissing the assessee's claim of it being revenue expenditure. Regarding the inclusion of Cenvat credit in closing stock valuation, the Tribunal remitted the matter back to the AO for recomputation in compliance with s. 145A of the IT Act, allowing deductions under certain conditions. The appeal was partly allowed, with the Tribunal providing specific directions on each issue. Case-Laws Income Tax Fri, 23 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59697