https://www.taxtmi.com/caselaws?id=326274 The Revenue's appeal against the disallowance of certain expenses by the CIT(A) was dismissed by the Tribunal. The CIT(A)'s decision to partly allow preparatory expenses necessary for construction work and overturn the disallowance of prior period expenses was upheld. The Tribunal emphasized that preparatory expenses were revenue in nature and should not be disallowed. It also reiterated that if expenses are disallowed, the corresponding income cannot be taxed. The Tribunal referenced previous judgments to support its decision, leading to the dismissal of the Revenue's appeal in April 2016. en-us Fri, 08 Apr 2016 00:00:00 +0530 Mon, 11 Apr 2016 10:04:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326274 The Revenue's appeal against the disallowance of certain expenses by the CIT(A) was dismissed by the Tribunal. The CIT(A)'s decision to partly allow preparatory expenses necessary for construction work and overturn the disallowance of prior period expenses was upheld. The Tribunal emphasized that preparatory expenses were revenue in nature and should not be disallowed. It also reiterated that if expenses are disallowed, the corresponding income cannot be taxed. The Tribunal referenced previous judgments to support its decision, leading to the dismissal of the Revenue's appeal in April 2016. Case-Laws Income Tax Fri, 08 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326274