Nature of expenses - Relaunch expenses - deferred revenue ...

April 19, 2024

Case Laws Income Tax AT

Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's categorization of the relaunch expenses as capital expenditure. It recognized these expenses as revenue in nature, incurred during the ordinary course of business for rebranding and promotional activities. The tribunal referenced several precedents where similar expenses were treated as revenue expenses, thereby allowing the appeal on this point.

View Source

← Previous Next →

Nature of expenses - Relaunch expenses - deferred revenue ...

April 19, 2024

Case Laws Income Tax AT

You may also like:

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

Nature of stamp duty paid in relation to the leased business premises - Revenue or capital expenditure - lease was for a period of 10 years - The same is not a deferred...

Revenue or Capital Expenditure - advertisement expense of Rs.1,36,88,928/- Expenditure are revenue in nature.... - HC

Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

Addition on account of purchase of data packages on the ground that the same amounts to deferred revenue expenditure - when the incurrence of such expenses are...

Fresh claim of business expenses in return u/s 153A - because of disallowing the original claim of deferred revenue expenses the assessee has rightly raised the...

Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

Allowance of hoarding expenses - capital expenditure or revenue expenditure - deduction on account of hoarding expenditure being in the nature of revenue expenditure allowed - AT

The assessee claimed deduction for compensation paid to farmers for acquiring mining rights, which was an allowable expenditure. The Assessing Officer allowed the...

Expenditure on construction of building in a leasehold premises - in the first Assessment Year Expenditure cannot be considered as repair u/s 30(a)(i) as the renovations...

Allowable business expenses/loss - compensation expenses attributable to unsold part of land - There is no concept of deferred revenue expenditure in tax laws. If the...

Quick Updates: