https://www.taxtmi.com/caselaws?id=10737 The court upheld the decisions of the taxing authorities in disallowing 25% of the capitalised amount by the Assessing Officer, as the expenses were not utilized for bringing into existence plant/machinery. It found no fault in the Assessing Officer's discretion regarding the material evidence provided by the assessee and the nature of various expenditures claimed. The court also upheld the decision on the taxation of expenditure for acquiring technical knowledge and the capitalisation of expenditure incurred prior to the commencement of business. Ultimately, the appeal was dismissed as the court found no merit in the issues raised by the assessee. en-us Mon, 03 Jan 2005 00:00:00 +0530 Wed, 22 Jul 2009 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10737 The court upheld the decisions of the taxing authorities in disallowing 25% of the capitalised amount by the Assessing Officer, as the expenses were not utilized for bringing into existence plant/machinery. It found no fault in the Assessing Officer's discretion regarding the material evidence provided by the assessee and the nature of various expenditures claimed. The court also upheld the decision on the taxation of expenditure for acquiring technical knowledge and the capitalisation of expenditure incurred prior to the commencement of business. Ultimately, the appeal was dismissed as the court found no merit in the issues raised by the assessee. Case-Laws Income Tax Mon, 03 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10737