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2009 (7) TMI 144 - DELHI HIGH COURTAssessee-company is engaged in the business of manufacture of auto electrical parts for which it was importing several components. The assessee-company considered that, instead of importing the components, it would be more beneficial to have the components locally procured and indigenously manufactured, and for this purpose a separate cell was set up for developing import substitute components. – Expenditure for setting up of separate cell for import substitute components is revenue in nature – Merely because the benefit of the expenditure can also be available later, is not a good enough reason to treat the expenditure, as a capital expenditure
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