https://www.taxtmi.com/caselaws?id=414988 The ITAT allowed the appeal of the assessee, engaged in real estate business, by permitting the expenses treated as capital expenditure by the Assessing Officer to be considered as revenue expenditure. The ITAT emphasized that the joint development agreement marked the commencement of the business, contrary to the AO's view. Additionally, the ITAT dismissed the disallowance under section 14A r.w.r 8D as it was not pursued by the assessee during the hearing. The judgment was supported by relevant case laws and a Delhi High Court decision, clarifying the treatment of expenses under the Income Tax Act, 1961. en-us Fri, 08 Oct 2021 00:00:00 +0530 Tue, 23 Nov 2021 06:12:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414988 The ITAT allowed the appeal of the assessee, engaged in real estate business, by permitting the expenses treated as capital expenditure by the Assessing Officer to be considered as revenue expenditure. The ITAT emphasized that the joint development agreement marked the commencement of the business, contrary to the AO's view. Additionally, the ITAT dismissed the disallowance under section 14A r.w.r 8D as it was not pursued by the assessee during the hearing. The judgment was supported by relevant case laws and a Delhi High Court decision, clarifying the treatment of expenses under the Income Tax Act, 1961. Case-Laws Income Tax Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414988