2017 (4) TMI 1358 - SCH - Income Tax

Allowability of revenue expenditure - amount written off by the assessee in respect of expenses incurred on projects originally set up to put up cell sites but later abandoned - HC 2016 (10) TMI 181 - BOMBAY HIGH COURT has held as no new business was set up but towers in addition to which were already set up were proposed at site which project was later on abandoned - expenditure is incurred for doing the business in a more convenient and profitable manner and has not resulted in bringing any new asset into existence then such expenditure is allowable business expenditure Held that - Leave granted.Hearing expedited. Tag with Civil Appeal No. 11128 of 2016. Liberty is granted to file additional documents.

Summary

The Supreme Court of India in 2017 (4) TMI 1358 - SC Order, with judges Mr. R.K. Agrawal and Mr. Abhay Manohar Sapre, condoned delay, granted leave, expedited hearing, and tagged the case with Civil Appeal No. 11128 of 2016. Liberty was granted to file additional documents.