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2015 (7) TMI 898 - AT - Income TaxDisallowance of loss relating to 'Talcher Transmission Line' - Held that:- project could not be said to have ceased to exist and the expenses claimed by the assessee was of such nature that would not result into any revenue for the assessee and therefore the same could not be booked as work in progress. Accordingly, we note that the AO was not correct to deny the amount of loss as claimed by the assessee on Talcher Transmission Line project. Hence, we are of the considered view that the CIT(A) was right in deleting the addition which was made by the AO without any logical reasoning and thus we are unable to see any infirmity, perversity or any other valid reason to interfere with the impugned order and we uphold the same. Accordingly, sole ground of the revenue being devoid of merits is dismissed. - Decided against Revenue.
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