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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

The amount incurred by the assessee for construction of railway ...


Railway Sidings and Tracks Construction Deemed Revenue Expenditure; No Capital Asset Created for Assessee.

June 7, 2016

Case Laws     Income Tax     AT

The amount incurred by the assessee for construction of railway sidings and track outside the refinery complex was a revenue expenditure in the year in which it was incurred since the said expenditure did not result in bringing into existence any capital asset for the assessee - AT

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