THE COMMISSIONER OF INCOME TAX III, vs. M/S. SAVIJANA SEA FOODS PVT. LTD.,
Appeals of the Revenue are dismissed
ITTA/55/2010HC Telangana20 Dec 2024
Bench: J SREENIVAS RAO,ALOK ARADHE
Section 260
gains, they should be treated as capital expenditure in the hands of
the Assessee, was not based on sound reasoning.
(iv) Expenditure on purchase of stock and trade is charged to the P&L and
trading account at the time of purchase, which cannot be deferred. The
observation of the AO that the Appellant was free to claim the deduction
