MYND SOLUTIONS P.LTD,GURGAON vs. ACIT, CIRCLE-17(1), NEW DELHI

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ITA 6633/DEL/2018Status: DisposedITAT Delhi13 March 2019AY 2010-114 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal restored the matter to the Assessing Officer to reconsider the issue of project expenses as revenue expenditure, in light of the AO's own findings in subsequent years to ensure consistency.

What were the facts?

The assessee company claimed project expenses of Rs. 1,48,28,489/- as revenue expenditure. The Assessing Officer treated these expenses as capital expenditure, which was upheld by the CIT(A).

What were the issues?

Whether project expenses treated as capital by the AO and CIT(A) should be considered revenue expenditure, especially when similar expenses were treated as revenue in subsequent years.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 148

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : E : NEW DELHI

Before: SHRI R.K. PANDA & SHRI KULDIP SINGH

For Appellant: Shri Afsar Jamil, CA
For Respondent: Ms Rinku Singh, Sr.DR
Hearing: 12.03.2019Pronounced: 13.03.2019

per fact and law, after giving due opportunity of being heard to the assessee. We hold and direct accordingly. The grounds raised by the assessee are accordingly allowed for statistical purposes.

9.

In the result, the appeal filed by the assessee is partly allowed for statistical purposes. The decision was pronounced in the open court on 13.03.2019.

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