https://www.taxtmi.com/caselaws?id=252091 The Court addressed the treatment of expenditure for establishing a Green Belt at a Fertiliser Plant, focusing on capitalization, depreciation disallowance, classification as plant and machinery, and capitalizing expenditure before production. The Court held that the Green Belt expenditure can be capitalized as revenue expenditure before production but should not be classified as plant and machinery. It emphasized the importance of adhering to tax laws' norms for expenditure classification, setting aside the Tribunal's direction to treat the expenditure under plant and machinery. en-us Wed, 17 Sep 2014 00:00:00 +0530 Fri, 10 Oct 2014 06:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252091 The Court addressed the treatment of expenditure for establishing a Green Belt at a Fertiliser Plant, focusing on capitalization, depreciation disallowance, classification as plant and machinery, and capitalizing expenditure before production. The Court held that the Green Belt expenditure can be capitalized as revenue expenditure before production but should not be classified as plant and machinery. It emphasized the importance of adhering to tax laws' norms for expenditure classification, setting aside the Tribunal's direction to treat the expenditure under plant and machinery. Case-Laws Income Tax Wed, 17 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252091