launching a new project
constituting an expansion and extension of the existing business. AO interpreted the
same as stating a separate project altogether ... assessee with that of the Mawa project. There is
common fund, common control and common management in launching the Mawa
project, which falls
different units in
different phases of the project to arrive at the sale figures individually project
wise and then to arrive at the total consolidated ... time of 2006-08 in India at fast pace on the launch/pre-
launch stage itself . The stupendous rise of the real estate
made by the
Revenue to the pre-launch offer, under which the expected time for completion
of the project was mentioned as 30 months from
Nadidwala Grandson Entertainment Pvt. ... vs Dcit Cc-4(4) , Mumbai on 7 June, 2022
11
Fixed assets) to the balance sheet, the
impugned amount is shown as pre-operative expenses, which cannot
be allowed as revenue expenditure for the year ... clause No.17 where it states
that the assessee had launched a project and the same is
implemented in a phased manner. If the same
following reasons:
a. If the said expenditure pertains to a project as per principles
of accounting the same is to be capitalised which will give ... Clause
No.17, where it states that the assessee had launched a
project and the same is implemented in a phased manner. If
the said
business operations of
the assessee and therefore, the interest received during pre-operative
period could not be charged to tax. However, it was noted that ... converted into
fixed assets and put to use during the year. The pre-operative stage was
already over. The assessee also acquiesced to the said
amount is shown as pre operative expenses, which cannot be allowed as
revenue expenditure for the year under consideration, (ii) pre
commencement period expenditure ... clause no. 17 to the
tax audit report, the assessee had launched a project and the same is
implemented in a phased manner
amount is
shown as pre operative expenses, which cannot be allowed as revenue
expenditure for the year under consideration, (ii) pre commencement period
expenditure ... clause no. 17 to the tax audit
report, the assessee had launched a project and the same is implemented in
a phased manner
noticed that the service
to be rendered by TKC was project planning and monitoring support in the
initial phases of ABG Retail and the payments ... payment was made for the launch of the retail business and therefore it has to
be treated as pre-operative expenditure and it gives
