ASSISTANT COMMISSIONER OF INCOME TAX, KOLHPAUR vs. RBL BANK LTD, KOLHAPUR
In the result, the appeal of the Revenue is dismissed
ITA 657/PUN/2024[2014-15]Status: DisposedITAT Pune30 Sept 2024AY 2014-15
Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)
Section 139(1)Section 143(2)Section 250Section 271Section 271(1)(c)
transfer of humanskill is a revenue, though the benefit may be of enduring in nature. Hence, the said expenditure has to betreated as revenue expenditure. The order passed by the Assessing Officer to disallow the expenditure asrevenue expenditure is erroneous in law.
38. In the context of business take over by Banks, the Reserve Bank of India has specifically provided
