https://www.taxtmi.com/highlights?id=56614 Capital or revenue loss - non-recovery of advances given by the assessee for acquiring immovable property - Classification of this expenditure as capital in nature in its books of accounts of the assessee for the purpose of Companies Act does not ipso facto make that expenditure as capital expenditure for the purpose of income tax. - AT en-us Sat, 06 Feb 2021 11:18:24 +0530 Sat, 06 Feb 2021 11:18:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56614 Capital or revenue loss - non-recovery of advances given by the assessee for acquiring immovable property - Classification of this expenditure as capital in nature in its books of accounts of the assessee for the purpose of Companies Act does not ipso facto make that expenditure as capital expenditure for the purpose of income tax. - AT Highlights Income Tax Sat, 06 Feb 2021 11:18:24 +0530 https://www.taxtmi.com/highlights?id=56614