https://www.taxtmi.com/caselaws?id=184740 The Tribunal upheld the assessee's treatment of expenses as revenue expenditure, dismissing the AO's appeal and affirming the allowance of claimed expenses under Project Development Expenditure. The First Appellate Authority deleted the addition of Rs. 39.79 lakhs and directed the AO to allow the expenditure under section 37(1) of the Income Tax Act for expenses amounting to Rs. 2.97 crores incurred under leave encashment and gratuity heads. The Tribunal cited relevant case laws and previous Tribunal orders, emphasizing the allowability of revenue expenses for business expansion. en-us Thu, 13 Aug 2015 00:00:00 +0530 Tue, 19 Jul 2016 11:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184740 The Tribunal upheld the assessee's treatment of expenses as revenue expenditure, dismissing the AO's appeal and affirming the allowance of claimed expenses under Project Development Expenditure. The First Appellate Authority deleted the addition of Rs. 39.79 lakhs and directed the AO to allow the expenditure under section 37(1) of the Income Tax Act for expenses amounting to Rs. 2.97 crores incurred under leave encashment and gratuity heads. The Tribunal cited relevant case laws and previous Tribunal orders, emphasizing the allowability of revenue expenses for business expansion. Case-Laws Income Tax Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184740