https://www.taxtmi.com/caselaws?id=431875 The Revenue's appeal against the disallowance of expenditure amounting to Rs.5,25,93,191 incurred as part of the project cost was dismissed by the Tribunal. The Assessing Officer had classified the expenditure as capital expenditure for land acquisition and connection charges, but the Tribunal found that it was part of the project cost and not capital assets of the assessee. The MOU with the Ministry of Home Affairs supported this view, stating the expenses were for project costs, not asset creation. The Tribunal upheld the order deleting the addition, resulting in the dismissal of the Revenue's appeal. en-us Mon, 11 Apr 2022 00:00:00 +0530 Thu, 22 Dec 2022 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431875 The Revenue's appeal against the disallowance of expenditure amounting to Rs.5,25,93,191 incurred as part of the project cost was dismissed by the Tribunal. The Assessing Officer had classified the expenditure as capital expenditure for land acquisition and connection charges, but the Tribunal found that it was part of the project cost and not capital assets of the assessee. The MOU with the Ministry of Home Affairs supported this view, stating the expenses were for project costs, not asset creation. The Tribunal upheld the order deleting the addition, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431875