Held, that the assessee had constructed the new roads in its business premises. Since, the construction of road has got enduring benefits, the cost incurred had to be capitalized. Issues relating to Share premium and interest on borrowed capital, Matter remanded. (AY.2012-13)
Pragati Glass Pvt. Ltd. v. ACIT (2022) 93 ITR 42 (SN) (Surat)(Trib.)
S. 37(1) : Business expenditure-Construction of new roads-Capital expenditure-Share premium-Interest on borrowed capital-Matter remanded. [S. 36(1)(iii), 68]