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2017 (9) TMI 489 - HC - Income TaxNature of expenditure - expenditure incurred in protecting the land from the acquisition - Land was held as stock-in-trade of the Assessee - revenue or capital expenditure - Held That:- the fact that the Assessee is holding land in question as stock in trade is not in dispute. The expenditure incurred by it for protecting the land from acquisition in the circumstances should be held to be revenue expenditure. - the Court finds no error committed by the ITAT in coming to the conclusion that the expenditure incurred by the Assessee on account of contribution to the Shelter Fund should be allowed as business expenditure. - Decided in favor of assessee.
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