https://www.taxtmi.com/caselaws?id=255275 The court upheld the Tribunal's decision on all three issues raised by the appellant, dismissing the appeal as no substantial legal questions were found. The expenses for due diligence in laying a pipeline were treated as business expenses rather than capital expenditure. Expenses for software purchase were categorized as revenue expenditure. The addition of estimated profit on work in progress was not separately considered for tax assessment, which the court agreed with. Ultimately, the court found no errors in the Tribunal's decisions and concluded that the expenses were appropriately treated, leading to the dismissal of the appeal. en-us Mon, 05 Jan 2015 00:00:00 +0530 Tue, 13 Jan 2015 09:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255275 The court upheld the Tribunal's decision on all three issues raised by the appellant, dismissing the appeal as no substantial legal questions were found. The expenses for due diligence in laying a pipeline were treated as business expenses rather than capital expenditure. Expenses for software purchase were categorized as revenue expenditure. The addition of estimated profit on work in progress was not separately considered for tax assessment, which the court agreed with. Ultimately, the court found no errors in the Tribunal's decisions and concluded that the expenses were appropriately treated, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 05 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255275