https://www.taxtmi.com/caselaws?id=305427 The ITAT Chennai partially allowed the appeal filed by the assessee on April 10, 2013. The disallowance of expenditure treated as capital in nature was overturned, with the addition of Rs. 83,20,841 being deleted. Additionally, the disallowance of advances claimed as business loss was partially reversed, with certain advances being allowed as revenue expenditure under section 37(1). As a result, the ITAT granted relief to the assessee by partly allowing the appeal. en-us Wed, 10 Apr 2013 00:00:00 +0530 Sat, 03 Dec 2022 15:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305427 The ITAT Chennai partially allowed the appeal filed by the assessee on April 10, 2013. The disallowance of expenditure treated as capital in nature was overturned, with the addition of Rs. 83,20,841 being deleted. Additionally, the disallowance of advances claimed as business loss was partially reversed, with certain advances being allowed as revenue expenditure under section 37(1). As a result, the ITAT granted relief to the assessee by partly allowing the appeal. Case-Laws Income Tax Wed, 10 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305427