https://www.taxtmi.com/caselaws?id=183013 The ITAT dismissed the appeal, upholding the CIT(A)'s decisions on all three issues. It allowed the earnest money for land acquisition as a business loss since no enduring benefit accrued to the assessee. The expenditure on employee restructuring was considered revenue expenditure to enhance efficiency. The claim for additional depreciation on new machinery was upheld, emphasizing the assessee's right to raise claims during assessment or appellate proceedings without a revised return, contrary to the Goetze judgment cited by the Assessing Officer. en-us Thu, 29 Oct 2015 00:00:00 +0530 Thu, 26 May 2016 08:41:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183013 The ITAT dismissed the appeal, upholding the CIT(A)'s decisions on all three issues. It allowed the earnest money for land acquisition as a business loss since no enduring benefit accrued to the assessee. The expenditure on employee restructuring was considered revenue expenditure to enhance efficiency. The claim for additional depreciation on new machinery was upheld, emphasizing the assessee's right to raise claims during assessment or appellate proceedings without a revised return, contrary to the Goetze judgment cited by the Assessing Officer. Case-Laws Income Tax Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183013