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2021 (7) TMI 893 - AT - Income TaxNature of expenditure - abandoned sugar projects - revenue or capital expenditure - HELD THAT:- Once the expenditure incurred for starting new business forms capital expenditure, the very analogy is to be adopted qua of the abandonment of a new project as well. We find no merit in the instant reasoning in light of the M/s. Binani Cement Ltd. Vs. CIT [2015 (3) TMI 849 - CALCUTTA HIGH COURT] that the impugned claim indeed forms revenue and not capital expenditure. We thus reverse both the learner lower authorities' action declining the assessee's claim for this sole reason alone. - Decided in favour of assessee.
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