https://www.taxtmi.com/highlights?id=66650 Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any revenue recognition - t the assessee demonstrated that it had acted bonfidely on the basis of guidance notes of the ICAI and on the basis of accounting of such expenses in the earlier years, etc. - No penalty - AT en-us Sat, 19 Nov 2022 14:23:29 +0530 Sat, 19 Nov 2022 14:23:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66650 Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any revenue recognition - t the assessee demonstrated that it had acted bonfidely on the basis of guidance notes of the ICAI and on the basis of accounting of such expenses in the earlier years, etc. - No penalty - AT Highlights Income Tax Sat, 19 Nov 2022 14:23:29 +0530 https://www.taxtmi.com/highlights?id=66650