https://www.taxtmi.com/caselaws?id=790458 In a real estate project under the Project Completion Method, advertisement, business promotion and commission expenses were treated as revenue expenditure because they were promotional in nature and did not bring inventory to its present location and condition under Accounting Standard 2; they were therefore not required to be capitalised as work-in-progress. By contrast, loan processing charges and security expenses were found to be project-specific costs directly attributable to the development activity and necessary for the project inventory, so they were correctly included in work-in-progress. The appeal was partly allowed by deleting capitalisation of promotional s while sustaining capitalisation of project-specific expenses. en-us Fri, 27 Mar 2026 00:00:00 +0530 Sat, 25 Apr 2026 08:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790458 In a real estate project under the Project Completion Method, advertisement, business promotion and commission expenses were treated as revenue expenditure because they were promotional in nature and did not bring inventory to its present location and condition under Accounting Standard 2; they were therefore not required to be capitalised as work-in-progress. By contrast, loan processing charges and security expenses were found to be project-specific costs directly attributable to the development activity and necessary for the project inventory, so they were correctly included in work-in-progress. The appeal was partly allowed by deleting capitalisation of promotional s while sustaining capitalisation of project-specific expenses. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790458