Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
The primary issue is classification of expenditure on railway track, conveyor belt and ventilation ducting as revenue or capital. The tribunal applied the enduring-benefit test: if expenditure creates an enduring asset for the business's permanent profit-earning apparatus it is capital; if it facilitates current contract operations and yields only temporary utility it is revenue. Applying this test, the tribunal found the site-specific railway siding, conveyor system and ventilation ducting were temporary, removable or functionally limited to the contract and did not enhance core capacity; accordingly the expenditure was revenue in nature and the appellant's appeal was allowed.
The primary issue is classification of expenditure on railway track, conveyor belt and ventilation ducting as revenue or capital. The tribunal applied the enduring-benefit test: if expenditure creates an enduring asset for the business's permanent profit-earning apparatus it is capital; if it facilitates current contract operations and yields only temporary utility it is revenue. Applying this test, the tribunal found the site-specific railway siding, conveyor system and ventilation ducting were temporary, removable or functionally limited to the contract and did not enhance core capacity; accordingly the expenditure was revenue in nature and the appellant's appeal was allowed.
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