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Expenditure for expansion of existing business is revenue expenditure
Case Law Details
- Case Name
- M/s. Manipal Health Systems Pvt. Ltd. Vs Assistant Commissioner of Income-tax (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Bangalore
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M/s. Manipal Health Systems Pvt. Ltd. Vs ACIT (ITAT Bangalore)
It is also an undisputed fact that the project was completed and the appellant has paid services fees of Rs.3,30,90,000/- to Allegro Corporate Finance Advisors Pvt. Ltd. The appellant claimed it to be revenue expenditure under the head legal and professional charges but treated it to be a capital expenditure. The quantum of expenditure incurred by the appellant in obtaining services from Allegro Corporate Finance Advisors Pvt. Ltd., was not disputed by the Revenue. The dispute before us is only with regard to nature of expenditu...
