Held that expenditure on setting up new unit, expenditure on feasibility study and loan Processing fee and bank charges are allowable as revenue expenditure. Relied on Alembic Chemical Works Co. Ltd. v. CIT (1989) 177 ITR 377 (SC).(AY.2010-11)
PCIT v. Apollo Tyres Ltd. (No. 2) (2022)447 ITR 403 (Ker.)(HC) PCIT v. Apollo Tyres Ltd. (No. 3) (2022)447 ITR 431 (Ker.)(HC)
S. 37(1) : Business expenditure-Capital or revenue-Expansion of existing business-Expenditure on setting up new unit-Expenditure on feasibility study-Loan Processing fee and bank charges-Revenue expenditure.