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The Tax Publishers2019 TaxPub(DT) 0744 (Mad-HC) INCOME TAX ACT, 1961
Section 37(1)
Expenditure relating to setting up of new unit had to be treated as revenue expenditure.
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Capital or revenue expenditure - Expenditure relating to setting up of new unit - -
Assessee claimed dedduction of expenditure relating to setting up of new unit at Sriperumbudur, AO disallowed the same as capital expenditure.Held: Expenditure relating to setting up of new unit had to be treated as revenue expenditure.
Followed:CIT v. Rane (Madras) Ltd. (2007) 293 ITR 459 (Mad) : 2007 TaxPub(DT0 1318 (Mad-HC), CIT v. Sakthi Sugars Ltd. (2011) 339 ITR 400 (Mad) : 2011 TaxPub(DT0 390 (Mad-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2008-09 to 2014-15
INCOME TAX ACT, 1961
Section 14A(2)
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