Dismissing the appeal of the revenue the, merely because the assessee has shown capital expenditure in accounts and claimed as revenue in the return, claim of assessee cannot be disallowed. Order of Tribunal is affirmed. Followed CIT v Reliance Footprint Ltd (ITA No 948 of 2014 dt. 5-07-2017. (Arising out of ITA No. 1661 /Mum/ 2013 dt. 13-07-206) (ITA No. 985 of 2017 dt. 17-11-2019 (AY. 2008-09)
Reliance Fresh Ltd. v. ACIT (2019) BCAJ-November-P 56 (Bom.) (HC)
S. 37(1) : Business expenditure–Capital or revenue–Different treatment in accounts and computation-Allowable as revenue expenditure. [S. 145]