https://www.taxtmi.com/caselaws?id=183861 The ITAT upheld the CIT(A)'s decision to delete the addition of disallowed development expenses by the AO. The tribunal found the provision for development expenses allowable under the mercantile system of accounting, noting the consistent accounting policy and commercial practice followed by the assessee. The tribunal emphasized that any discrepancies between provisions and actual expenses could be addressed upon project completion. As a result, the revenue's appeals were dismissed. en-us Fri, 13 Jan 2012 00:00:00 +0530 Tue, 12 Dec 2017 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183861 The ITAT upheld the CIT(A)'s decision to delete the addition of disallowed development expenses by the AO. The tribunal found the provision for development expenses allowable under the mercantile system of accounting, noting the consistent accounting policy and commercial practice followed by the assessee. The tribunal emphasized that any discrepancies between provisions and actual expenses could be addressed upon project completion. As a result, the revenue's appeals were dismissed. Case-Laws Income Tax Fri, 13 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183861