Assessee-contractor having capitalized all the expenses incurred on construction and not claimed the same as revenue expenditure, no disallowance can be made by invoking the provisions of s. 40(a)(ia).(AY. 2017-18 & 2018-19)
ITO v. Thrissur Expressway Ltd. (2025) 234 TTJ 676 (Hyd)(Trib)
S. 40(a)(ia): Amounts not deductible-Deduction at source-Capitalised the expenditure-Neither are expenses debited to P&L a/c and nor deduction is claimed-Disallowances cannot be made.
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