i would like to get citations of a few case laws where it has been stated that when an expenditure has been made incurred for the purpose of setting up a new project but since the project was not started, the expenditure will qualify as a revenue expenditure.
More Facts are required :
a) What sort of a project are you referring to ie., are you referring to capital expenditure as "Projects" ?
b) Nature of business that the company is engaged in.. this is critical to identify the nature of expenditure.
c) From when the project has been put on hold ie., depending on (a) is this a longer item in CWIP ?
| Originally posted by : Uday | ||
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no the project of setting up a business unit the company is engaged i letting and sub letting places for IT sector the project has been banned via a notification from Govt of India. |
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Naveen Fintech Pvt Ltd
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CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
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CA Final
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CAclubindia
