This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Legal Expenses on Capital Assets Treated as Revenue: ITAT Quashes Section 263 Revision
Case Law Details
- Case Name
- Angre Port Private Ltd. Vs PCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Angre Port Private Ltd. Vs PCIT (ITAT Pune)
In the case of Angre Port Private Ltd. vs. PCIT, ITAT Pune examined the validity of a revision order passed under Section 263 of the Income Tax Act by the Principal Commissioner of Income Tax (PCIT). The issue pertained to legal and professional expenses of ₹10 lakhs claimed by the assessee for services related to an agreement concerning a New Ship Lift System. The original assessment was completed under Section 143(3), where the Assessing Officer (AO) had scrutinized the claim and accepted it as revenue expenditure. However, the P...
Author Info
