Unsold Land Costs: Allowable Business Expenses, Not Deferred Revenue. Tax Laws Demand Full Deduction in Year Incurred.

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....Allowable business expenses/loss - compensation expenses attributable to unsold part of land - There is no concept of deferred revenue expenditure in tax laws. If the expenditure incurred is revenue in nature the same has to be allowed as expenditure/loss and the same is not to be allocated over some years.....