https://www.taxtmi.com/caselaws?id=456126 ITAT Delhi allowed assessee's claim for expenses related to completed construction project. Revenue authorities disallowed expenditure arguing project was completed in previous year under completed contract method, precluding further expense claims. Assessee contended residual and incidental expenses could be accounted in succeeding year despite project completion. ITAT relied on Delhi HC precedent in Gopal Das Estates case, holding expenditure incurred subsequent to project completion under completed contract method must be allowed as revenue expenditure. Tribunal found expenses were business-related and undisputed, directing deletion of disallowance. en-us Mon, 31 Aug 2020 00:00:00 +0530 Mon, 01 Jul 2024 20:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456126 ITAT Delhi allowed assessee's claim for expenses related to completed construction project. Revenue authorities disallowed expenditure arguing project was completed in previous year under completed contract method, precluding further expense claims. Assessee contended residual and incidental expenses could be accounted in succeeding year despite project completion. ITAT relied on Delhi HC precedent in Gopal Das Estates case, holding expenditure incurred subsequent to project completion under completed contract method must be allowed as revenue expenditure. Tribunal found expenses were business-related and undisputed, directing deletion of disallowance. Case-Laws Income Tax Mon, 31 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456126