AO Disallows System Development’s Legal and Professional Charges as Capital Expenses: ITAT Directs Re-adjudication [Read Order]

The AO has been instructed to conduct a thorough verification to determine their nature as revenue expenses.
AO - System Development's Legal and Professional Charges - Legal and Professional Charges - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has instructed the Assessing Officer (AO) to review the case involving the disallowance of legal and professional charges incurred for system development by System Development. In this matter, the CIT (A) upheld the AO’s decision to disallow legal and professional charges totaling Rs….

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