Scope of the term Current Repairs - Disallowance of the cost of ...

"Current Repairs" in Income Tax Act: Compressor and TV Tube Replacements Qualify as Deductible Expenses u/s 31(i.

November 4, 2013

Case Laws Income Tax AT

Scope of the term Current Repairs - Disallowance of the cost of chamber assembly – Replacing compressor in the air-condition machine and picture tube in the television set would come within the connotation of “current repairs“ under section 31(i) - AT

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Scope of the term Current Repairs - Disallowance of the cost of ...

"Current Repairs" in Income Tax Act: Compressor and TV Tube Replacements Qualify as Deductible Expenses u/s 31(i.

November 4, 2013

Case Laws Income Tax AT

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Current Repairs - ‘Nature & Treatment’ of expense

Current repairs – assessee cannot claim the benefit of written down value of the cost of construction which he had incurred under the head Current repairs - HC

Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

Expenses on purchase on new items - Acquisition of new assets for replacement of existing assets as current repairs - 10% of items listed by the AO are held to be of capital - AT

Revenue or Capital expenditure – replacement/ overhauling/ rejuvenation - to preserve and maintain already existing asset - allowed as current repairs - AT

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