Calcutta HC holds 40(a)(ia) applies on WIP

In a recent decision dated 09.04.2014 rendered by Hon’ble Calcutta High Court in the case of CIT vs. FAIRLAND DEVELOPMENT PVT LTD, the Hon’ble Court has held that “when an expenditure of a revenue nature was incurred and shown as work in progress, it could not be said that the provisions of section 40(a)(ia) were not attracted”.

To read complete text of judgement, click here calcutta HC holds 40(a)(ia) on WIP

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