https://www.taxtmi.com/caselaws?id=291171 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the treatment of Net Present Value as capital expenditure, disallowance of peripheral development expenses, treatment of prior period expenditure, addition of outstanding expenses under section 41(1), valuation of closing stock, and disallowance of compensatory afforestation expenses. The Revenue's appeal was dismissed in ITA No.584/CTK/2012 for Assessment Year 2006-07, while the assessee's appeal was allowed in ITA No.551/CTK/2012 for Assessment Year 2008-09. The Revenue's appeal in ITA No.552/CTK/2012 for Assessment Year 2008-09 was also dismissed. en-us Fri, 21 Dec 2012 00:00:00 +0530 Fri, 30 Oct 2020 17:01:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291171 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the treatment of Net Present Value as capital expenditure, disallowance of peripheral development expenses, treatment of prior period expenditure, addition of outstanding expenses under section 41(1), valuation of closing stock, and disallowance of compensatory afforestation expenses. The Revenue's appeal was dismissed in ITA No.584/CTK/2012 for Assessment Year 2006-07, while the assessee's appeal was allowed in ITA No.551/CTK/2012 for Assessment Year 2008-09. The Revenue's appeal in ITA No.552/CTK/2012 for Assessment Year 2008-09 was also dismissed. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291171