https://www.taxtmi.com/caselaws?id=178388 Loss disclosed in the return had to be recognised while computing taxable income, as the omission to notice it was inadvertent and the figure formed part of the return computation. Payment to the municipal corporation for regularising additional development and unauthorised construction was treated as revenue expenditure, since it secured ex post facto approval for business use and was not a penalty for breach of law. Site development expenses, BMC expenses and brokerage expenses were also not to be disallowed where they were already reflected in work-in-progress and formed part of project cost. en-us Fri, 24 Jun 2011 00:00:00 +0530 Wed, 03 Feb 2016 17:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178388 Loss disclosed in the return had to be recognised while computing taxable income, as the omission to notice it was inadvertent and the figure formed part of the return computation. Payment to the municipal corporation for regularising additional development and unauthorised construction was treated as revenue expenditure, since it secured ex post facto approval for business use and was not a penalty for breach of law. Site development expenses, BMC expenses and brokerage expenses were also not to be disallowed where they were already reflected in work-in-progress and formed part of project cost. Case-Laws Income Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178388