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TMI Blog2016 (10) TMI 1281X X X X Extracts X X X X X X X X Extracts X X X X ..... urt in case of this very assessee in [2013 (10) TMI 1367 - GUJARAT HIGH COURT ] held that once the expenditure is held to be in revenue in nature incurred wholly and exclusively for the purpose of business, it can be allowed in its entirety in the year in which it is incurred. - Decided in favour of assessee. - Tax Appeal No. 579 of 2016, Tax Appeal No. 578 of 2016 - - - Dated:- 3-10-2016 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted appeals in which the Court observed as under : 8.0. At the outset, it is required to be noted that and it is not in dispute that the assessee incurred the expenses of ₹ 82,14,000/ in AY 2005 -06 and ₹ 39,19,000/ in AY 2006- 07 and claimed the deduction treating as revenue expenditure. It is required to be noted that the learned Tribunal as well as learned CIT(A) has c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 126 of 2013. In the aforesaid decision, the Division Bench of this Court has held that once the expenditure is held to be in revenue in nature incurred wholly and exclusively for the purpose of business, it can be allowed in its entirety in the year in which it is incurred. In view of the above direct decision of this Court, question no.1 in respective appeals is required to be held in favour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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