Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (2) TMI 15 - HC - Income TaxRevenue expenditure vs deferred revenue expenditure - manufacturing and trading in pharmaceuticals products - pharmaceuticals products registered in foreign countries for 5 years - registration amount paid in lumpsum in the first year – Revenue contending it to be deferred revenue expenditure – Held that:- Assessee has been regularly incurring expenditure on registration of pharmaceuticals products in foreign countries. A similar addition made was deleted by CIT(Appeals) in the A.Y. 2003-04 and 2004-05 . Similarily in A.Y. 2005-06, deletion made was appealled by Revenue before Tribunal but was dismissed and no further appeal was preferred before this Court. It therefore, appears that the aforesaid expenditures are being claimed from year to year. Even if the plea of the revenue is accepted, the net effect may be marginal or minimum – Decided against the Revenue
|