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Whether the expenditure is capital or revenue in nature cannot form the subject matter of block assessment
Case Law Details
- Case Name
- Commissioner of Income Tax Vs East India Syntex Limited (Delhi High Court )
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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CIT Vs. East India Syntex Limited (Delhi High Court)- It is not in dispute that the entries were made contemporaneously when the expenditure was incurred between September, 1997 and December 1997. Therefore, though the search was in September, 1998, it cannot be denied that the entries had been made in the books of accounts by that time. This is what the CIT (A) has noted in para 27 of his order by saying that the case of the AO is not that these were not made in the regular books of account. Further, as rightly pointed out by the CIT (A), a debatable question whether the expenditure is cap...
