| The Tax Publishers2019 TaxPub(DT) 8208 (Bom-HC) INCOME TAX ACT, 1961
Section 37(1)
Revenue very fairly stated that this issue stands concluded in favour of assessee and against the Revenue by decision of this Court in in Pr.CIT v. M/s.Indian Seamless Steels and Alloys Ltd. [[Income Tax Appeal No. 396 of 2017 with Income Tax Appeal No. 397 of 2017, dt. 30-4-2019]], therefore, the proposed question did not give rise to any substantial question of law. Hence, appeal was not entertained
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Business expenditure - DSRM trial run - Expenditure incurred before commissioning - Allowability
Whether Tribunal was correct in allowing the expenditure of Rs. 6,32,80,798 incurred on DSRM trial run as revenue expenditure without appreciating the fact that the expenditure was incurred before commissioning. Held: Revenue very fairly stated that this issue stands concluded in favour of assessee and against the Revenue by decision of this Court in Pr.CIT v. M/s.Indian Seamless Steels and Alloys Ltd. [[Income Tax Appeal No. 396 of 2017 with Income Tax Appeal No. 397 of 2017, dt. 30-4-2019]], therefore, the proposed question did not give rise to any substantial question of law. Hence, appeal was not entertained.
REFERRED : Pr. CIT v. Indian Seamless Steels and Alloys Ltd. [Income Tax Appeal No. 396 of 2017 With Income Tax Appeal No. 397 of 2017, dt. 30-4-2019] Indian Seamless Steels & Alloys Ltd. v. Jt. CIT [ITA No. 2214/Mum./2005, 2215/Mum./2005, 2216/Mum./2005, 2050/Mum./2005, 2051/Mum./2005, 2052/Mum./2005, dt. 29-4-2016]
FAVOUR : In assessee's favour
A.Y. :
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