https://www.taxtmi.com/caselaws?id=208087 The High Court dismissed the appeal challenging the deletion of an addition made by the Assessing Officer regarding Capital Assets debited to store consumption during block assessment proceedings. The Court upheld the Tribunal's decision, stating that the nature of expenditure, whether capital or revenue, should be determined in regular assessments under section 143(3) and not in block assessments. The Court emphasized that the questions raised did not constitute substantial questions of law and affirmed that the Assessing Officer's additions were appropriately addressed within the regular assessment framework. en-us Wed, 30 Nov 2011 00:00:00 +0530 Wed, 04 Jan 2012 09:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208087 The High Court dismissed the appeal challenging the deletion of an addition made by the Assessing Officer regarding Capital Assets debited to store consumption during block assessment proceedings. The Court upheld the Tribunal's decision, stating that the nature of expenditure, whether capital or revenue, should be determined in regular assessments under section 143(3) and not in block assessments. The Court emphasized that the questions raised did not constitute substantial questions of law and affirmed that the Assessing Officer's additions were appropriately addressed within the regular assessment framework. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208087