https://www.taxtmi.com/caselaws?id=305462 The Tribunal upheld the decision to allow the expenditure of Rs. 7.10 crores as revenue expenditure, citing that it was incurred in the same line of business. The reopening of the assessment under section 148 was deemed valid, as there was no legal or factual infirmity found in the decision. The Tribunal dismissed the delayed Cross Objections, emphasizing the importance of adhering to the law of limitation in tax litigation. Consequently, the appeals by the AO and the Cross Objections of the assessee were both dismissed. en-us Tue, 06 Jun 2017 00:00:00 +0530 Mon, 05 Dec 2022 21:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305462 The Tribunal upheld the decision to allow the expenditure of Rs. 7.10 crores as revenue expenditure, citing that it was incurred in the same line of business. The reopening of the assessment under section 148 was deemed valid, as there was no legal or factual infirmity found in the decision. The Tribunal dismissed the delayed Cross Objections, emphasizing the importance of adhering to the law of limitation in tax litigation. Consequently, the appeals by the AO and the Cross Objections of the assessee were both dismissed. Case-Laws Income Tax Tue, 06 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305462