Advance for setting of hospital project which got abandoned is allowable as revenue expense

DCIT Vs Amri Hospitals Ltd (ITAT Kolkata)

ITAT Kolkata held that advance given in relation to business transaction for setting up hospital project which was abandoned, the said advance is irrecoverable and hence allowable as revenue expenditure.

Facts-

AO observed that the assessee has claimed expenditure of Rs. 10,87,28,000/- on account of compensation paid to Mr. Kunal Saha as per the directions of the Hon’ble Su

Please become a Premium member. If you are already a Premium member, login here to access the full content.