TMI Blog2020 (11) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... enue in nature. Thus, ground No. 1 of the Revenue s appeal is dismissed. Advertisement and sale promotion expenses - Revenue or capital expenses - HELD THAT:- advertisement and sale promotion expenses are Revenue expenses as held in Assessment Year 2007-08 [ 2013 (12) TMI 1353 - ITAT DELHI ] in assessee s own case and there is no different facts emerging in present assessment year which are identical to the said assessment year 2007-08. Therefore, ground No. 2 of the Revenue s appeal is dismissed. Addition on account of loss on waiver of loans - CIT-A deleted addition - HELD THAT:- As evident that in order to safe-guard its financial interest the assessee closed the credit facility for which settlement took place between the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the circumstances of the case and also in law, the ld. CIT (Appeals) has erred by deleting the addition of ₹ 1,33,40,751/- on account of loss on waiver of loans. 4. That the appellant craves for the permission to add, delete or amend the grounds of appeal before or at the time of hearing of appeal. 3. The assessee is engaged primarily in the business of providing ancillary management support services to its overseas group entity, Six Continents Hotels Inc., USA ( SCHI ) and services relating to management and operation of hotels in India and providing technical support services to hotels in India. The ancillary management support services are rendered to its overseas group companies with respect to hotels based in the So ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e payment made to ₹ 2,21,170/- shown under the head payment made for patent and trademark was in the nature of legal charges in infringement proceedings. The Assessing Officer was of the view that such payment would have given enduring benefit to the assessee. The Assessing Officer also held that the above expenses as capital in nature and, therefore, disallowance of 80% of such expenses amounting to ₹ 17,90,806/- was made. The Assessing Officer also made disallowance of advertisement and space promotion towards ₹ 1,40,69,933/- and also the disallowance of waiver of loan amounting to ₹ 2,61,86,927/-. 4. Being aggrieved by the assessment order the assessee filed appeal before the CIT (Appeals) and the CIT (Appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due diligence and risk analysis with the target hotels. Thus, these expenses are Revenue in nature. Thus, ground No. 1 of the Revenue s appeal is dismissed. 8. As regards ground No. 2, the CIT (Appeals) has again relied upon the Tribunal s decision in Assessment Year 2007-08. It is pertinent to note that advertisement and sale promotion expenses are Revenue expenses as held in Assessment Year 2007-08 in assessee s own case. and there is no different facts emerging in present assessment year which are identical to the said assessment year 2007-08. Therefore, ground No. 2 of the Revenue s appeal is dismissed. 9. As regards ground No. 3 the CIT (Appeals) has given a finding that the assessee converted the outstanding demand of ₹ 1, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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