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2015 (2) TMI 498 - AT - Income TaxExpenditure incurred for obtaining research report - capital v/s revenue nature - CIT(A) upheld AO's view that as the expenditure incurred by the assessee company was for expansion of business by means of acquisition of research reports, it is of capital nature - Held that:- The expenditure incurred in respect of same business, is allowable as revenue expenditure, even if it is for expansion of the business. In the instant case here too admittedly the expenditure even as per the revenue is for expansion of business and therefore such expenditure on research reports obtained in the course of advisory services is revenue expenditure. The assessee has declared income from advisory services after obtaining report of ₹ 1,06,47,974/- which is in excess to the expenditure incurred. Mere fact that part of the expenditure was incurred for marketing does not change the nature of expenditure. - Decided in favour of assessee.
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