Dismissing the appeal of the assessee the Court held that the Amount forfeited by seller upon failure to pay full instalments within stipulated time period in respect of a windmill plant for power generation would be capital expenditure. (AY. 2009-10)
Nandkishor Motilal Shah. v. CIT (2019) 415 ITR 429/ 263 Taxman 36/ 179 DTR 170/ (2020) 314 CTR 663 (Bom.)(HC)
S. 37(1) : Business expenditure–Capital or revenue-Amount forfeited by seller upon failure to pay full instalments within stipulated time period would be capital expenditure.[S. 28(i)]