https://www.taxtmi.com/caselaws?id=298118 The Tribunal dismissed the Revenue's appeal, affirming that project expenses were revenue in nature and deductible for business purposes. The expenses were deemed to be incurred wholly and exclusively for the business, focusing on social upliftment and rural development rather than profit-making. The Tribunal highlighted that the assets created through the projects belonged to the villages and were managed by the communities, with the society providing expertise and funding. The decision aligned with previous ITAT rulings, supporting the assessee's position. en-us Wed, 06 Sep 2017 00:00:00 +0530 Wed, 13 Oct 2021 08:41:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298118 The Tribunal dismissed the Revenue's appeal, affirming that project expenses were revenue in nature and deductible for business purposes. The expenses were deemed to be incurred wholly and exclusively for the business, focusing on social upliftment and rural development rather than profit-making. The Tribunal highlighted that the assets created through the projects belonged to the villages and were managed by the communities, with the society providing expertise and funding. The decision aligned with previous ITAT rulings, supporting the assessee's position. Case-Laws Income Tax Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298118