M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.
The appeals are allowed and impugned orders are
ITA/244/2005HC Punjab & Haryana09 Feb 2023
Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA
Section 143Section 260Section 37
Section 35AB of Act 1961, the deduction has
to be given in one financial year and with respect to remaining deduction, it
ITA Nos. 244, 281, 282, 283 & 630 of 2005 2023:PHHC:056092-DB
6
has to be claimed equally in next five years. Hence, this expenditure is to be
treated as revenue expenditure.
Learned senior counsel
