https://www.taxtmi.com/caselaws?id=255825 The High Court ruled in favor of the assessee in Tax Appeal Nos. 447 of 2000 and 2033 of 2009, determining that the expenditure on the Seamless Steel Tube project and the feasibility study of the PET product should be classified as revenue expenditure. Additionally, the exclusion of 90% of net interest for deduction under section 80HHC was upheld. The court aligned with the decision in Tax Appeal No. 2033 of 2009, dismissing the contrary ruling in Tax Appeal No. 522 of 2009 for consistency in treating feasibility study expenses. en-us Tue, 09 Dec 2014 00:00:00 +0530 Fri, 05 Aug 2022 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255825 The High Court ruled in favor of the assessee in Tax Appeal Nos. 447 of 2000 and 2033 of 2009, determining that the expenditure on the Seamless Steel Tube project and the feasibility study of the PET product should be classified as revenue expenditure. Additionally, the exclusion of 90% of net interest for deduction under section 80HHC was upheld. The court aligned with the decision in Tax Appeal No. 2033 of 2009, dismissing the contrary ruling in Tax Appeal No. 522 of 2009 for consistency in treating feasibility study expenses. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255825