Project Management Study expense to facilitate existing business is revenue in nature

Brief of the Case

ITAT Mumbai held In the case of J.P MORGAN SERVICES PVT LTD Vs. ITO held that ‘benefits of enduring nature’ is not the sole factor to categorise an expense as capital expense. Expenditure for improving “operational efficiency” regarding Project Management Study will be considered as Revenue in Nature.

It further held that AO cannot made disallowances/additions made on the directions of the Transfer Pricing Officer and has to

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