https://www.taxtmi.com/caselaws?id=775957 ITAT Delhi held that the assessee's consistent method of claiming revenue expenditure deductions, not directly related to the project but incurred wholly and exclusively for business purposes, is allowable. Since no revenue from the project was recognized, such expenditures should be capitalized as part of project cost or inventory and not deducted. However, given the assessee's consistent accounting practice accepted by the revenue in earlier years except for finance costs, the ITAT allowed the deduction for the year under appeal. The disallowance of 90% of revenue expenditure was not upheld, affirming the deductibility of such expenses based on the assessee's consistent approach from AY 2011-12 onwards. en-us Thu, 31 Jul 2025 00:00:00 +0530 Fri, 01 Aug 2025 17:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775957 ITAT Delhi held that the assessee's consistent method of claiming revenue expenditure deductions, not directly related to the project but incurred wholly and exclusively for business purposes, is allowable. Since no revenue from the project was recognized, such expenditures should be capitalized as part of project cost or inventory and not deducted. However, given the assessee's consistent accounting practice accepted by the revenue in earlier years except for finance costs, the ITAT allowed the deduction for the year under appeal. The disallowance of 90% of revenue expenditure was not upheld, affirming the deductibility of such expenses based on the assessee's consistent approach from AY 2011-12 onwards. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775957