https://www.taxtmi.com/caselaws?id=444148 The Tribunal allowed the assessee's appeal, overturning disallowances made by the Ld. AO and upheld by the Ld. CIT(A). The disallowance of Rs. 10,33,21,064/- under section 35AD for capital expenditure was allowed, citing precedents and provisions supporting the deduction. Additionally, the disallowance of Rs. 48,36,016/- on account of loss on the sale of assets not part of the block of assets was also overturned, considering the expenditure as business expenditure due to the abandonment of the project. en-us Mon, 21 Aug 2023 00:00:00 +0530 Mon, 09 Oct 2023 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444148 The Tribunal allowed the assessee's appeal, overturning disallowances made by the Ld. AO and upheld by the Ld. CIT(A). The disallowance of Rs. 10,33,21,064/- under section 35AD for capital expenditure was allowed, citing precedents and provisions supporting the deduction. Additionally, the disallowance of Rs. 48,36,016/- on account of loss on the sale of assets not part of the block of assets was also overturned, considering the expenditure as business expenditure due to the abandonment of the project. Case-Laws Income Tax Mon, 21 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444148