Expenditure towards abandoned project is available as revenue expenditure

DCIT Vs Omega Shelters Private Limited (ITAT Hyderabad)

ITAT Hyderabad held that expenditure incurred for construction/acquisition of new facility which was subsequently abandoned at work-in-progress stage was allowable in year of write off as incurred wholly and exclusively for purpose of business.

Facts-

AO noted from the notes on accounts that during the year under consideration the assessee company surrendered the ‘Neighborhood apa

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