Are expenses on real estate research, due diligence and marketing research treated as revenue in nature under the IT Act?

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Last updated: 19 July 2021
Quick Summary
This Income Tax Appellate Tribunal case examines whether expenses incurred on real estate research, due diligence, and marketing research should be classified as revenue expenditure under the Income Tax Act. The revenue argued these costs provided enduring benefits and were capital in nature. However, the Tribunal, referencing previous decisions in the assessee's own case, upheld the view that these expenses are indeed revenue in nature.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment Year (AY) 2014-15contest the order of Ld. Commissioner of Income-Tax (Appeals)-33, Mumbai, [in short referred to as ‘CIT(A)’], Appeal No. 507/17-18 dated 27/08/2019 on following grounds: - 

Citation :
I.T.A. No.7014/Mum/2019

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