2024 (9) TMI 1339 - SCH - Income Tax

Disallowance made u/s 40A(2) - Slump Sale Transfer of hospital as a going concern - amount spent on projects for establishing and operating hospitals - Nature of expenditure on hospital projects as revenue or capital expenditure - Disallowance of service charges paid to a company - Disallowance of expenditure for inflow of equity - disallowance towards non-recoverable projects cost by holding that the expenditure is in the nature of revenue expenditure - disallowance of legal and professional charges by holding that the same is in the nature of capital expenditure - HELD THAT - On a query made by this Court the learned counsel appearing for the petitioners on instructions states that the judgments referred to in paragraph 3 of the impugned judgment have not been challenged by the petitioners. Hence no case for interference is made out in exercise of our jurisdiction under Article 136 of the Constitution of India. The Special Leave Petition is accordingly dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition as the judgments referred to were not challenged by the petitioners. Delay was condoned, and the pending application was disposed of.