https://www.taxtmi.com/caselaws?id=354573 The High Court dismissed the appellant revenue's challenge to the Income Tax Appellate Tribunal's order regarding the addition made on account of capitalization out of revenue expenses. The Court upheld the Tribunal's decision, affirming the deletion of the addition by the Commissioner (Appeals) based on past acceptance of similar treatment by the revenue in earlier years. The Court found no legal infirmity in the conclusion that the expenditure on dies, tools, and machinery spares was revenue in nature due to their consumable nature and past treatment by the revenue, resulting in the appeal's dismissal. en-us Wed, 24 Jan 2018 00:00:00 +0530 Wed, 31 Jan 2018 18:16:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354573 The High Court dismissed the appellant revenue's challenge to the Income Tax Appellate Tribunal's order regarding the addition made on account of capitalization out of revenue expenses. The Court upheld the Tribunal's decision, affirming the deletion of the addition by the Commissioner (Appeals) based on past acceptance of similar treatment by the revenue in earlier years. The Court found no legal infirmity in the conclusion that the expenditure on dies, tools, and machinery spares was revenue in nature due to their consumable nature and past treatment by the revenue, resulting in the appeal's dismissal. Case-Laws Income Tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354573