https://www.taxtmi.com/caselaws?id=339977 The Tribunal upheld the disallowance of Club House Facility Expenses claimed by the property development firm, deeming it as capital expenditure due to the creation of an asset for the assessee. The Tribunal referenced the joint development agreement and legal precedents to support its decision, emphasizing the nature of the expenditure. The appeal was dismissed, affirming that the expense was not allowable as a revenue deduction. The issues regarding deductions under Section 8-IB and interest liability under Sections 234B and 234D were not extensively discussed in the judgment. en-us Fri, 03 Mar 2017 00:00:00 +0530 Sat, 11 Mar 2017 07:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339977 The Tribunal upheld the disallowance of Club House Facility Expenses claimed by the property development firm, deeming it as capital expenditure due to the creation of an asset for the assessee. The Tribunal referenced the joint development agreement and legal precedents to support its decision, emphasizing the nature of the expenditure. The appeal was dismissed, affirming that the expense was not allowable as a revenue deduction. The issues regarding deductions under Section 8-IB and interest liability under Sections 234B and 234D were not extensively discussed in the judgment. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339977