Home Case Index All Cases Income Tax Income Tax + SCH Income Tax - 2017 (4) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (4) TMI 1358 - SCH - Income TaxAllowability of revenue expenditure - amount written off by the assessee in respect of expenses incurred on projects originally set up to put up cell sites, but later abandoned - HC [2016 (10) TMI 181 - BOMBAY HIGH COURT] has held as no new business was set up, but towers in addition to which were already set up were proposed at site, which project was later on abandoned - expenditure is incurred for doing the business in a more convenient and profitable manner and has not resulted in bringing any new asset into existence, then, such expenditure is allowable business expenditure Held that:- Leave granted.Hearing expedited. Tag with Civil Appeal No. 11128 of 2016. Liberty is granted to file additional documents.
|