ITAT upholds Sun Pharma Labs Ltd.’s Deduction for Consultancy fees paid to McKinsey & Company, Classifying it as Revenue Expenditure [Read Order]
The tribunal found that the consultancy services were aimed at optimizing the company's operations and did not provide enduring benefits, distinguishing them from capital expenditures
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the decision of the Commissioner of Income Tax(Appeals)[CIT(A)] regarding Sun Pharma Laboratories Ltd.’s deduction for consultancy fees paid to McKinsey & Company, classifying these expenditures as revenue in nature. The revenue-appellant contested the CIT(A) order dated 28.02.2019 regarding the assessment for Assessment Year…
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