https://www.taxtmi.com/highlights?id=30430 The submission of revenue that the accounting treatment to be meted out to a transaction in accordance with the Accounting Standard has no relevance for the purposes of the Income-tax Act, 1961, is a submission which does not commend to us. Thus, expenditure on tools is to be allowed as revenue expenditure - AT en-us Fri, 22 Jul 2016 14:07:00 +0530 Fri, 22 Jul 2016 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=30430 The submission of revenue that the accounting treatment to be meted out to a transaction in accordance with the Accounting Standard has no relevance for the purposes of the Income-tax Act, 1961, is a submission which does not commend to us. Thus, expenditure on tools is to be allowed as revenue expenditure - AT Highlights Income Tax Fri, 22 Jul 2016 14:07:00 +0530 https://www.taxtmi.com/highlights?id=30430