https://www.taxtmi.com/caselaws?id=365203 The Tribunal partially allowed the appeal, directing the AO to treat the receipts from the sale of demo products and rent as capital in nature, setting them off against development expenses. The disallowance of expenses related to CWIP was overturned, with the Tribunal recognizing the reasonable allocation of expenses by the assessee. The decision emphasized consistency in treating receipts and expenses, aligning with ICAI guidance and case law. The Tribunal's ruling overturned the CIT(A)'s decision, providing clarity on the treatment of receipts and expenses in the case. en-us Fri, 10 Aug 2018 00:00:00 +0530 Sun, 12 Aug 2018 14:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365203 The Tribunal partially allowed the appeal, directing the AO to treat the receipts from the sale of demo products and rent as capital in nature, setting them off against development expenses. The disallowance of expenses related to CWIP was overturned, with the Tribunal recognizing the reasonable allocation of expenses by the assessee. The decision emphasized consistency in treating receipts and expenses, aligning with ICAI guidance and case law. The Tribunal's ruling overturned the CIT(A)'s decision, providing clarity on the treatment of receipts and expenses in the case. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365203