https://www.taxtmi.com/caselaws?id=440874 The Tribunal allowed the Assessee's appeal regarding the treatment of expenditure on Membrane Cells as revenue expenditure, overturning the disallowance of Rs. 2,28,91,059. Additionally, the Tribunal set aside the adjustment of Rs. 4,63,88,745 as prior period expenses made by the CIT(A), ruling in favor of the Assessee. The Revenue's appeal challenging the deletion of the adjustment was dismissed by the Tribunal due to the CIT(A) actually confirming the adjustment. en-us Wed, 12 Jul 2023 00:00:00 +0530 Fri, 28 Jul 2023 09:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440874 The Tribunal allowed the Assessee's appeal regarding the treatment of expenditure on Membrane Cells as revenue expenditure, overturning the disallowance of Rs. 2,28,91,059. Additionally, the Tribunal set aside the adjustment of Rs. 4,63,88,745 as prior period expenses made by the CIT(A), ruling in favor of the Assessee. The Revenue's appeal challenging the deletion of the adjustment was dismissed by the Tribunal due to the CIT(A) actually confirming the adjustment. Case-Laws Income Tax Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440874