Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]

Expenses incurred for repairing machines -repairing machines- running petrol pump business are revenue nature - ITAT deletes penalty - petrol pump business - taxscan

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that expenses incurred for repairing machines for the running of petrol pump business are revenue in nature. Akram Hossain Mullick, the taxpayer is engaged in retailing of petroleum and diesel under the proprietary concern as M/s. M.H. Filling Centre operating petrol pump.Assessee filed his return of…

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