https://www.taxtmi.com/caselaws?id=429485 The Tribunal condoned the delay in filing appeals for AY 2013-14 and 2014-15 due to COVID-19, admitting them for adjudication. Deferred revenue expenditure and other expenses were held to be pre-commencement and should be capitalized, not allowed as business expenditure. Project expenditure was allowed to be capitalized for AY 2013-14, with a fresh adjudication for AY 2014-15. The disallowance of bad debts for AY 2014-15 was upheld, considering the nature of the advances. The revenue's appeal for AY 2013-14 was partly allowed, while the appeals for AY 2014-15 were allowed for statistical purposes, and the assessee's appeal was dismissed. en-us Wed, 26 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429485 The Tribunal condoned the delay in filing appeals for AY 2013-14 and 2014-15 due to COVID-19, admitting them for adjudication. Deferred revenue expenditure and other expenses were held to be pre-commencement and should be capitalized, not allowed as business expenditure. Project expenditure was allowed to be capitalized for AY 2013-14, with a fresh adjudication for AY 2014-15. The disallowance of bad debts for AY 2014-15 was upheld, considering the nature of the advances. The revenue's appeal for AY 2013-14 was partly allowed, while the appeals for AY 2014-15 were allowed for statistical purposes, and the assessee's appeal was dismissed. Case-Laws Income Tax Wed, 26 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429485