Expenditure incurred for construction of a new facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure
Last updated: 20 December 2022
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
You have reached daily limit of 2 Free Judgements. To view this or other Judgements please subscribe to CCI PRO :
Stay updated! Stay ads free
Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.
CCI PRO annual subscription :
Original Price : INR 2999/-
Offer Price : INR 1999/-
Duration : 1 year
(Prices Inclusive of GST)
Know More
Note: If you are a PRO member already, please click here to login (for ad free experience)
Bimal Jain
Published in Others
Views : 91
Comments
Trending Online Classes
CAclubindia
