2218/Chny/15
that where the transactions in asset got aborted half way the same would
result in loss of capital. It will ... both the conditions would be pronounced in their absence in
case of aborted transaction. Accordingly, the ld. CIT(A) has held that the
claim
Mahindra Holidays & Resorts India Ltd., ... vs Dcit (Ltu) , Chennai on 10 May, 2023
आयकर
agreement in relation--
(a) to expenditure by way of infructuous or abortive exploration
expenses in respect of any area surrendered prior to the beginning
indeed is the
case qua a revenue expenditure. That an expenditure is abortive or does not
serve its intended purpose is by itself no reason
that the acquisition did not materialize, and the expense was
thus abortive. Relying on CIT v. United Breweries
project did not take off, it should be treated as an aborted project
and the expenses should be considered as capital in nature
Hardy Exploration And Production ... vs Assessee on 15 September, 2010
IN THE INCOME TAX APPELLATE
same shall however not make
it a revenue expenditure. Why, an abortive capital expenditure is also capital in
nature and, thus, a capital expenditure (refer
capital by way of public issue and as the public issue got
aborted, we are of the humble opinion that the expenditure
make provisions in relation to the expenditure by way of
infructuous or abortive exploration or expenditure incurred on
drilling or exploration activities and depletion allowance
