https://www.taxtmi.com/caselaws?id=240530 The Court upheld the assessee's appeal in part, ruling in favor of the revenue on the valuation of closing stock issue but in favor of the assessee on the treatment of pre-operative expenses. The closing stock addition was reinstated, while the pre-operative expenses were deemed revenue expenditure due to the lack of an enduring benefit from the project. The Court disposed of the appeal without cost orders. en-us Wed, 22 May 2013 00:00:00 +0530 Thu, 05 Dec 2013 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240530 The Court upheld the assessee's appeal in part, ruling in favor of the revenue on the valuation of closing stock issue but in favor of the assessee on the treatment of pre-operative expenses. The closing stock addition was reinstated, while the pre-operative expenses were deemed revenue expenditure due to the lack of an enduring benefit from the project. The Court disposed of the appeal without cost orders. Case-Laws Income Tax Wed, 22 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240530