Whereas the expenditure of a capital nature incurred on the ...

Capital Expenditure on Renovation by Occupancy Right Holders Eligible for Depreciation, Not Revenue Deduction, per Section 32.

September 21, 2016

Case Laws Income Tax AT

Whereas the expenditure of a capital nature incurred on the renovation etc. of a building, which is not owned by the assessee but in respect of which the assessee holds mere occupancy rights, cannot be allowed deduction as a revenue expense, but such expenditure of a capital nature is liable to be considered as a building owned by the assessee for the purposes of section 32 - Depreciation to be allowed - AT

View Source

← Previous Next →

Whereas the expenditure of a capital nature incurred on the ...

Capital Expenditure on Renovation by Occupancy Right Holders Eligible for Depreciation, Not Revenue Deduction, per Section 32.

September 21, 2016

Case Laws Income Tax AT

You may also like:

Non compete right is an "intangible asset" eligible for depreciation - AT

Depreciation @ 10% on improvements carried out in the lease hold premises - Assessee claimed 100% depreciation on the leasehold improvements - The ingredients and...

Renovation expenditure as capital expenditure - payment towards purchase of furniture and fixture for new office have been incurred for purchase of furniture and fixture...

Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

Revenue or Capital Expenditure - Temporary structure by means of false ceiling and office renovation had not resulted in any capital expenditure - HC

Disallowance of non-compete fees - Capital or revenue expenditure - expenditure has to be disallowed as capital expenditure - however depreciation to be allowed - AT

Nature of expenditure - Revenue expenditure u/s 37(1) or capital expenditure - royalty payment for user of technical know-how and intellectual property rights along with...

Deduction u/s 80IAB on the disallowance of depreciation on Water-use Rights (Intangibles Asset) - The Tribunal acknowledged the payment made by the assessee for...

Revenue or Capital expenditure - expenditure incurred by the assessee in relation to the premises under consideration for complete renovation to suit the requirements of...

Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

Disallowance of depreciation on lease hold land claimed u/s 32(1)(ii) - “right to mine” and the “surface right” falls within the definition of intangible assets as...

Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

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...

Disallowance of expenditure as capital expenditure being 25% of royalty amount paid - it cannot be said that the Sweden Company had relinquished its command over the...

Expenditure incurred on Antivirus software and switches treated as capital expenditure eligible for depreciation @ 60% - there is no acquisition of any capital asset...

Quick Updates: