Tribunal held that , when project is abandoned without acquiring any new asset for enduring benefit. Expenses is allowable as revenue expenditure. (AY.2009 10 to 2013-14)
Manipal Health Systems P. Ltd. v. ACIT (2018) 65 ITR 51( SN)) (Bang) (Trib)
S.37(1): Business expenditure — Capital or revenue -Collaboration agreement for expansion of existing business — Project abandoned without acquiring any new asset for enduring benefit —Expenses allowable as revenue expenditure.