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ASST CIT 4 (3) Mumbai Versus Reliance Supply Chain Solutions Ltd.

2015 (3) TMI 1202 - ITAT Mumbai

Project development expenditure - Disallowance of claim for deduction u/s 37(1) in respect of revenue expenditure - Held that:- From the submissions made by the before the AO as well as Ld. CIT(A), it is seen that this was the second year of the operation of the company and business had already started. The operations from the revenue had been shown at ₹ 14,178 lakhs. Looking to the nature of expenses it can be very well held that these are routine expenses incurred during the course of op .....

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d by the Revenue stands dismissed. - Decided in favour of assessee. - ITA No. 6342/Mum/2013 - Dated:- 25-3-2015 - SHRI B.R. BASKARAN AND SHRI AMIT SHUKLA JJ Ms. Sheela Chitlangia for the Appellant. Shri Santosh Kumar for the Respondant. ORDER: The aforesaid appeal has been filed by the Revenue against order dated 01.08.2013 passed by Ld. CIT(A)-14, Mumbai for the quantum of assessment u/s 143(3), on the following grounds: 1. On the facts and in the circumstances of the case and in law the Ld. CI .....

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nd claimed by the assessee on the basis of actual payment of unpaid gratuity and unpaid leave encashment which was included in the total project development expenditure of ₹ 7,69,22,617/- ignoring the fact that the entire expenditure of ₹ 7,69,22,617/- has been disallowed by the AO and that an appeal against the decision of the CIT(A) deleting the disallowance on this A/c for AY 2008-09 has been filed before the Hon'ble ITAT and which is pending." 2. At the outset, learned c .....

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the aforesaid contention of the parties and also on the perusal of the impugned order, we find that the issue relates to disallowance of claim for deduction u/s 37(1) in respect of revenue expenditure, aggregating to ₹ 14,81,34,192/- which has been treated as capital expenditure by the AO. The assessee is engaged in the business of distribution and logistics business and this was the second year of the operation of the company. The assessee had shown expenditure of ₹ 14,81,34,192/- .....

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