Dismissing the appeal of the revenue the Court held that , Expenses on restructuring of business is held to be allowable as revenue expenditure.Expenses of sale of one unit is held to be allowable business expenditure .
PCIT v. Akzo Noble India Ltd. (2018) 256 Taxman 1 / ( 2019) 413 ITR 79(Cal)(HC)
S.37(1):Business expenditure – Capital or revenue – Expenses on restructuring of business is held to be allowable as revenue expenditure.Sale of one of unit- Expendiure is allowable .