Would expenditure incurred on feasibility study conducted for examining proposals for technological advancement relating to the existing business be classified as revenue expenditure, where the project was abandoned without creating a new asset?

Would expenditure incurred on feasibility study conducted for examining proposals for technological advancement relating to the existing business be classified as revenue expenditure, where the project was abandoned without creating a new asset?

CIT Vs. Priya Village Roadshows Ltd. (2011) 332 ITR 594 (Delhi HC)

In this case, the assessee, engaged in the business of running cinemas, incurred expenditure towards archi

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