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TMI Blog2014 (3) TMI 953X X X X Extracts X X X X X X X X Extracts X X X X ..... ything of enduring benefit in the sense of a capital asset. In view of the settled position of law on this issue as laid down by the hon'ble High Courts of Bombay and Calcutta in the cases of CIT v. Glenmark Pharmaceutical Ltd. [2013 (1) TMI 488 - BOMBAY HIGH COURT] and CIT v. Ananda Bazar Patrika (P) Ltd [1989 (2) TMI 19 - CALCUTTA High Court] - Decided in favour of assessee. - ITA No.7634/M/2012 - - - Dated:- 21-3-2014 - SHRI P.M. JAGTAP AND SHRI SANJAY GARG , JJ. For the Appellant : Shri N.R. Agrawal For the Respondent : Shri Ravi Prakash, D.R. ORDER Sanjay Garg (Judicial Member).- The present appeal has been filed by the assessee against the order of the Commissioner of Income-tax (Appeals) (hereinafter r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s further submitted that the expenses in question were incurred on a study and analysis of the product performance, quality, satisfaction of customers, market potential, marketing, etc. for their current products and to increase the shares in the market. Observing that the appellant has not advanced any reason to show that expenditure was incurred under the revenue head, the Assessing Officer held that the basic nature of expenses showed that it would bring benefit to the assessee for years to come. The expenses were related to market research and comparison with the competitive products and the same were capital in nature as it would give the assessee an advantage of enduring nature. The Assessing Officer therefore made disallowance of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e High Courts of Bombay and Calcutta as well as co-ordinate Benches of this Tribunal are unanimous to hold that the expenses incurred for market survey or research are allowable as revenue expenditure. The learned Departmental representative on the other hand, from the market research report in question, has tried to explain that whatever the research activity was carried out by the assessee, that in fact was relating to the work of the manufacturer. The assessee being the trader was not supposed to conduct such market survey. On the other hand, the learned authorised representative for the assessee has explained that the assessee is the all India agent and trader of the products in question and by conducting market research has been abl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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