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Income Tax - Highlights / Catch Notes

Home Highlights June 2017 Year 2017 This

Custom duty paid on purchase of plant and machinery - capital or ...


High Court Rules Custom Duty on Plant Machinery as Revenue Expenditure for EOU to DTA Conversion Under EPCG Scheme.

June 2, 2017

Case Laws     Income Tax     HC

Custom duty paid on purchase of plant and machinery - capital or revenue expenditure - assessee has converted its unit from 100% EOU under EPCG Scheme to DTA Unit and would sell goods in domestic market so this amount was paid for the more profitable business - allowed as revenue expenditure - HC

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