Expenditure incurred for construction of a new facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure
Court :
ITAT Hyderabad
Brief :
The Income Tax Appellate Tribunal, Hyderabad ("the ITAT") in DCIT v. Omega Shelters Pvt Ltd [I.T.A. No. 612/Hyd/2017 dated October 31, 2022] held that expenditure incurred for construction of a new facility and subsequently abandoned at work-in-progress stage is allowable as Revenue Expenditure.
Citation :
I.T.A. No. 612/Hyd/2017 dated October 31, 2022
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Bimal Jain
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