https://www.taxtmi.com/caselaws?id=377920 The appeal was filed by the revenue against the order passed by the Ld. CIT (A) for assessment year 2009-10, challenging the computation of income using the Percentage of Completion Method (POCM). The tribunal disagreed with the Ld. CIT (A) and held that certain expenses, such as assured returns and other expenses, should have been capitalized as they were spent for setting up the business. The tribunal emphasized the importance of proper categorization of expenses based on their nature and purpose, ultimately upholding the disallowance of certain expenses considered capital in nature. en-us Wed, 03 Apr 2019 00:00:00 +0530 Thu, 04 Apr 2019 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377920 The appeal was filed by the revenue against the order passed by the Ld. CIT (A) for assessment year 2009-10, challenging the computation of income using the Percentage of Completion Method (POCM). The tribunal disagreed with the Ld. CIT (A) and held that certain expenses, such as assured returns and other expenses, should have been capitalized as they were spent for setting up the business. The tribunal emphasized the importance of proper categorization of expenses based on their nature and purpose, ultimately upholding the disallowance of certain expenses considered capital in nature. Case-Laws Income Tax Wed, 03 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377920