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Revenue Expenditure

Mere Change of Opinion not Necessary Ingredient For Reassessment: ITAT quashes Reassessment on Software License Fee [Read Order]

Franklin Joshva

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed a reassessment order and ruled that the reopening of the assessment was...

Economic Survey 2023-24 - Revenue Expenditure Growth - Union Finance Minister Nirmala Sitharaman - Chief Economic Adviser Dr. V. Anantha Nageswaran - taxscan

Revenue Expenditure Growth Remains Restrained: Economic Survey 2023 -24

Professional Fees paid to Advocate for drafting Share Purchase Agreement is Revenue Expenditure :...

Payment made to Professionals towards due Diligence Fees for Rendering Assistance to...

ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT...

Guarantee Fees paid to Govt of Gujarat in consideration of Guarantee issued by it for Repayment of Unsecured loan is Revenue Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that guarantee fees paid to the government of Gujarat in consideration of guarantee issued by it for the repayment of unsecured loan is...

Expenses incurred for Infrastructure Development of leased property are Revenue Expenditure: ITAT upholds Deletion of Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that expenses incurred for the infrastructure development of leased property are revenue expenditure. Therefore the bench upheld the...

Revenue Expenditure incurred for Scientific Research allowable as deduction u/s 37 of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bangalore bench held that revenue expenditure incurred for the scientific research is allowed as deduction under Section 37 of the Income Tax Act, 1961.The...

Start-up Businesses Can Deduct All Revenue Expenses, Even If business has not commenced u/s 30(1) and 37(1) of IT Act: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that start-up businesses can deduct all revenue expenses, even if the business has not commenced, and held that the expenses are...

Engineering and Development costs incurred for manufacture and sale of Seats for Passenger cars are Revenue Expenditure :ITAT [Read Order]

The Pune bench of Income Tax Appellate Tribunal (ITAT) has held that engineering and development costs incurred for manufacture and sale of seats for passenger cars are revenue expenditure. The...

Assessee’s Non-Compete Fee Payment for Business Purpose Considered as Revenue Expenditure: ITAT

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the payment of non-competition fee for business purpose is considered as revenue expenditure. The Assessee ...

Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench in an appeal filed before it, held that foreign exchange fluctuation loss incurred in the business health care could not be allowed as...