Expenses incurred for reconditioning of over aged buses – body, ...

Costs for Reconditioning Worn Buses Classified as Revenue Expenditures, No Body or Engine Replacement Involved.

June 21, 2014

Case Laws Income Tax HC

Expenses incurred for reconditioning of over aged buses – body, engine of the buses are not replaced, but it is only repairing of ware and tare - expenditure are revenue in nature - HC

View Source

← Previous Next →

Expenses incurred for reconditioning of over aged buses – body, ...

Costs for Reconditioning Worn Buses Classified as Revenue Expenditures, No Body or Engine Replacement Involved.

June 21, 2014

Case Laws Income Tax HC

You may also like:

Classification of supply - Job work - supply of goods or supply of services - activity of Bus Body Building on the chassis - it is evident that the activity undertaken...

The key issue relates to the classification of the cost of silt as capital or revenue expenditure. The Assessing Officer (AO) treated it as capital expenditure and...

Nature of expenditure - reconditioning/repair of plant and machinery - so long as only part of the machinery has been replaced as in the instant case to preserve and...

Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

Applicable GST rate for bus body building activity - in case the supply made is that of bus, and accordingly supply would attract GST @28%. - In the case as mentioned at...

Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

ITAT affirmed weighted deduction eligibility u/s 35(2AB) for in-house scientific research expenditure. While R&D expenses incurred within India qualify for weighted...

Prior period expenditure - Whether Tribunal is right in holding that the expenditure was crystalized during the relevant previous year when the assessee hijmself has...

Classification and assessment of oil contained in the bunker tanks, both inside and outside the engine room of a vessel imported for breaking up - Tribunal had allowed...

Revenue or capital expenditure – software development expenditure – Assessee had treated the expenditure as a deferred revenue expenditure in the books of account and...

Classification of supply - supply of goods or supply of services - activity of Bus Body Building on the chassis supplied by the customer on job work basis - The bus body...

Nature of supply - The activity of fabrication and fitting and mounting of bus bodies on the chassis supplied by the other party is a composite supply with supply of...

Mis-declaration of imported goods - Scania 310 Chassis - one complete amphibian bus body mounted on chassis - malafide intention or not - The imported goods herein is...

Quick Updates: