https://www.taxtmi.com/caselaws?id=401070 The ITAT allowed the appeal of the assessee, determining that the amount paid for flat forfeiture was a revenue expenditure, not a capital expenditure. The tribunal emphasized that the expense was incurred for the real estate business's purpose and should be deductible. It noted the revenue's inconsistent treatment of the amount in different assessment years, leading to the deletion of the disallowance of Rs. 3,55,999 by the assessing officer. en-us Wed, 25 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 11:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401070 The ITAT allowed the appeal of the assessee, determining that the amount paid for flat forfeiture was a revenue expenditure, not a capital expenditure. The tribunal emphasized that the expense was incurred for the real estate business's purpose and should be deductible. It noted the revenue's inconsistent treatment of the amount in different assessment years, leading to the deletion of the disallowance of Rs. 3,55,999 by the assessing officer. Case-Laws Income Tax Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401070