https://www.taxtmi.com/caselaws?id=356520 The Court ruled in favor of the assessee in a case involving amortized advance rent for a wind power project, deletion of expenses for completed projects, and unaccounted refundable security and maintenance deposits. The Court relied on legal precedents and evidence presented, dismissing the Revenue's claims based on lack of justification and in line with previous rulings. The judgment highlighted that once projects are completed and accounted for, subsequent entries constitute contingent liabilities, supporting the assessee's position. The Court ultimately upheld the assessee's claims and directed the deletion of the disputed amounts brought to tax. en-us Fri, 16 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356520 The Court ruled in favor of the assessee in a case involving amortized advance rent for a wind power project, deletion of expenses for completed projects, and unaccounted refundable security and maintenance deposits. The Court relied on legal precedents and evidence presented, dismissing the Revenue's claims based on lack of justification and in line with previous rulings. The judgment highlighted that once projects are completed and accounted for, subsequent entries constitute contingent liabilities, supporting the assessee's position. The Court ultimately upheld the assessee's claims and directed the deletion of the disputed amounts brought to tax. Case-Laws Income Tax Fri, 16 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356520