https://www.taxtmi.com/caselaws?id=262068 The Court dismissed the appeal, upholding the ITAT's decision to allow the assessee's claim of pre-capitalization expenses as revenue in nature for business expansion. The Court emphasized the interlacing of funds between existing and new ventures, citing legal precedents like Challapalli Sugar Ltd. v. CIT and Jay Engineering Works Ltd. v. CIT. It concluded that no substantial question of law arose, affirming the importance of common management and funds in determining the nature of expenses. en-us Thu, 15 Jan 2015 00:00:00 +0530 Fri, 14 Aug 2015 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262068 The Court dismissed the appeal, upholding the ITAT's decision to allow the assessee's claim of pre-capitalization expenses as revenue in nature for business expansion. The Court emphasized the interlacing of funds between existing and new ventures, citing legal precedents like Challapalli Sugar Ltd. v. CIT and Jay Engineering Works Ltd. v. CIT. It concluded that no substantial question of law arose, affirming the importance of common management and funds in determining the nature of expenses. Case-Laws Income Tax Thu, 15 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262068