https://www.taxtmi.com/caselaws?id=12294 Expenditure on land development, including laying pipelines and dividing land into smaller plots, was treated as revenue expenditure because the land was held to be stock-in-trade and the work was undertaken to make it saleable in the ordinary course of the business of selling developed plots. The court held that such expenditure was incidental to carrying on that business and not capital in nature. The claim was therefore allowable, and the Tribunal was upheld. en-us Wed, 06 Feb 2002 00:00:00 +0530 Sun, 21 Feb 2010 06:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12294 Expenditure on land development, including laying pipelines and dividing land into smaller plots, was treated as revenue expenditure because the land was held to be stock-in-trade and the work was undertaken to make it saleable in the ordinary course of the business of selling developed plots. The court held that such expenditure was incidental to carrying on that business and not capital in nature. The claim was therefore allowable, and the Tribunal was upheld. Case-Laws Income Tax Wed, 06 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12294