Expenditure to set-up a new line of business is capital expenditure

IN THE ITAT AHMEDABAD BENCH ‘D’ Gujarat Mineral Dev. Corpn. Ltd. Versus Assistant Commissioner of Income-tax IT Appeal Nos. 128, 186 & 402 (Ahd.) of 2005 1036 & 1114 (AHD.) OF 2006 and 1182, 1184, 1244, 1245 & 4483 (AHD.) OF 2007 [Assessment years 2000-01 to 2002-03] MAY 25, 2012 ORDER Per Bench – Out of this bunch of ten appeals, there are various appeals of the assessee and the revenue for different assessment years against separate orders of Ld. CIT(A) VIII, Ahmedabad. All these appeals were heard together and are being disposed off by way of t...