https://www.taxtmi.com/caselaws?id=391709 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to permit the project management expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The Tribunal held that the change in the method of accounting was justified due to the temporary suspension of business activities, emphasizing the assessee's right to modify accounting methods under genuine circumstances. The Tribunal overturned the decisions of the Assessing Officer and Commissioner of Income Tax (Appeals), instructing the AO to accept the deductions claimed by the assessee. en-us Wed, 29 Jan 2020 00:00:00 +0530 Wed, 05 Feb 2020 14:49:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391709 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to permit the project management expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The Tribunal held that the change in the method of accounting was justified due to the temporary suspension of business activities, emphasizing the assessee's right to modify accounting methods under genuine circumstances. The Tribunal overturned the decisions of the Assessing Officer and Commissioner of Income Tax (Appeals), instructing the AO to accept the deductions claimed by the assessee. Case-Laws Income Tax Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391709