Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]

ITAT Mumbai - ITAT - Income Tax - Revenue Expenditure - Revenue Expenditure on Shelved Projects - ITAT Decision on Project Expenditure - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that expenditure incurred on sheleed projects are revenue expenditure and deleted the disallowance made by the assessing officer. The Assessee Tata Power Co. Ltd. is engaged in generation, transmission and distribution of electricity. the  assessee had entered into international transaction of…

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