https://www.taxtmi.com/caselaws?id=424215 The Tribunal upheld the decision to disallow general management fees as revenue expenditure, deeming them capital in nature based on the stage of the appellant's project development. The principle of consistency was not applied, and the appeal was dismissed in accordance with legal precedent, particularly the Challapalli Sugars Ltd. case, which held that such expenses should be added to the capital cost of the project until business setup. The appellant's claim was rejected, emphasizing the separate assessment nature of each year in income-tax proceedings. en-us Wed, 27 Apr 2022 00:00:00 +0530 Fri, 24 Jun 2022 08:21:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424215 The Tribunal upheld the decision to disallow general management fees as revenue expenditure, deeming them capital in nature based on the stage of the appellant's project development. The principle of consistency was not applied, and the appeal was dismissed in accordance with legal precedent, particularly the Challapalli Sugars Ltd. case, which held that such expenses should be added to the capital cost of the project until business setup. The appellant's claim was rejected, emphasizing the separate assessment nature of each year in income-tax proceedings. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424215