https://www.taxtmi.com/caselaws?id=387889 The Tribunal upheld the CIT(A)'s decision that the compensation paid by the assessee for non-fulfillment of contracts was a business expenditure/loss and not part of land acquisition costs. The compensation was allowed as a deduction in the current assessment year, following precedents and legal principles establishing such compensation as normal business losses. The appeal by the Revenue challenging the deletion of additions and disallowance of compensation expenses was dismissed. en-us Thu, 19 Sep 2019 00:00:00 +0530 Mon, 04 Nov 2019 06:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387889 The Tribunal upheld the CIT(A)'s decision that the compensation paid by the assessee for non-fulfillment of contracts was a business expenditure/loss and not part of land acquisition costs. The compensation was allowed as a deduction in the current assessment year, following precedents and legal principles establishing such compensation as normal business losses. The appeal by the Revenue challenging the deletion of additions and disallowance of compensation expenses was dismissed. Case-Laws Income Tax Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387889