Binani Cement Ltd. v. CIT - Taxpublishers.in

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The Tax PublishersITA No. 265 of 2009 2015 TaxPub(DT) 1490 (Cal-HC) : (2016) 380 ITR 0116 : (2015) 277 CTR 0049 : (2015) 233 TAXMAN 0340 : (2015) 118 DTR 0061 Binani Cement Ltd. v. CIT INCOME TAX ACT, 1961 --Business expenditure--AllowabilityCapital work-in-progress --*Held:* Due to abandonment of construction/acquisition of new facility at the work-in-progress stage, the expenditure incurred by assessee for preparation of the feasibility study report and on capital work-in-progress in the earlier years did not result in an enduring advantage and, therefore, the period expenditure on capital work-in-progress written off during the relevant year was to be allowed under section 37(1). SUBSCRIBE FOR FULL CONTENT

The Tax PublishersITA No. 265 of 2009
2015 TaxPub(DT) 1490 (Cal-HC) : (2016) 380 ITR 0116 : (2015) 277 CTR 0049 : (2015) 233 TAXMAN 0340 : (2015) 118 DTR 0061

Binani Cement Ltd. v. CIT

INCOME TAX ACT, 1961

--Business expenditure--AllowabilityCapital work-in-progress --Held: Due to abandonment of construction/acquisition of new facility at the work-in-progress stage, the expenditure incurred by assessee for preparation of the feasibility study report and on capital work-in-progress in the earlier years did not result in an enduring advantage and, therefore, the period expenditure on capital work-in-progress written off during the relevant year was to be allowed under section 37(1).