TMI Blog2011 (8) TMI 1190X X X X Extracts X X X X X X X X Extracts X X X X ..... exploratory drilling by the foreign company and also on account of environmental problems and presence of of Oliva Ridley turtles, a rare specie of turtles around the coastal area. The tribunal has recorded a finding of fact that the nature of the assessee's business is mining of ore and for achieving that object it has to carry out exploration activities. The outcome of such exploration is alway ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expenditure. The assessing officer disallowed the claim of the assessee on the ground that the assessee itself had capitalized these expenses as work in progress. The appeal filed by the assessee was dismissed by C.I.T.(A). On further appeal, the I.T.A.T. has allowed the claim of the assessee. 4. In the present case, the expenses related to two projects, namely, Ayirumthengu Project and Bhi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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