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Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

Classification of expenses -the expenditure made was at the best ...


Expenditure for One-Year Benefit Not Classified as Capital; No Asset Created.

September 29, 2014

Case Laws     Income Tax     HC

Classification of expenses -the expenditure made was at the best for continuing the benefit for one year - such payment cannot be categorized as capital in nature as no asset is brought into existence on account of such payment - HC

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