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of <h1>Gujarat HC allows setting up new unit expenses as revenue expenditure for assessment years</h1> The Gujarat HC ruled in favor of the assessee, allowing expenses for setting up a new unit as revenue expenditure for assessment years 1984-85 and ... Capital or revenue expenditure - In light of the fact that the controversy stands concluded by judgments rendered by this Court in Income Tax Reference No. 260 of 1984 And Income Tax Reference No. 333 of 1984 dated 20/12/1999; Income Tax Reference No. 173 of 1986 dated 04/07/2001; and Income Tax Reference No. 58 of 1992 dated 06/11/2001 between the same parties for various earlier assessment years, it is not necessary to set out the facts and contentions in detail - Decided in favor of the assessee The Gujarat High Court ruled in favor of the assessee, allowing the expenses incurred for setting up a new unit as revenue expenditure for assessment years 1984-85 and 1988-89. The decision was based on previous judgments between the same parties for earlier assessment years.
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