Provision towards recovery of cost of repairs - the word ...

Misleading Term "Provision" in Repair Cost Recovery: Deduction of Repair Expenses Permitted Despite Write-Off.

October 31, 2017

Case Laws Income Tax AT

Provision towards recovery of cost of repairs - the word ‘provision’ is a misnomer as, in reality, it is not a provision but write off of actual repair expenses (net of recovery) - claim of deduction allowed.

View Source

← Previous Next →

Provision towards recovery of cost of repairs - the word ...

Misleading Term "Provision" in Repair Cost Recovery: Deduction of Repair Expenses Permitted Despite Write-Off.

October 31, 2017

Case Laws Income Tax AT

You may also like:

The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement....

The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in...

Addition u/s 35D – Expenses on repair of work place - expenses are for the purposes of repairs on rented premises cannot be said to be preliminary expenses, eligible for...

LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

Customs Cargo Service Provider (CCSP) - even by any stretch of imagination, HCCAR 2009 in respect of cost recovery charges is made applicable retrospectively, even than...

Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

Valuation - Captive Consumption of goods by the sister concern - expenses to be included in the cost of production - Determination of Cost Plus 10% - Rule 8 - The issue...

Nature of expenses - repair and maintenance - revenue or capital expenditure - current repair u/s 30 - treatment of expenses incurred on renovation and refurbishment of...

This case deals with various issues related to deductions and allowances under the Income Tax Act. The key points are: Deduction u/s 80IB for profits from an industrial...

The case pertains to the disallowance of deduction claimed u/s 80IA by an assessee operating two units, one for paper manufacturing and another for power generation. The...

Disallowance of repairs and maintenance - Disallowance made on account of repairs and maintenance by holding that assessee had already given flat deduction @30% of...

Deduction of repairs & maintenance expenses - Revenue or capital expenditure - CIT(A) has deleted the disallowance without examining the details of expenses. In effect,...

Seeking waiver (exemption) of cost recovery basis - whether the CFS has achieved the bench marking for waiver of cost recovery charges - the sanction of posts of customs...

Current Repairs - ‘Nature & Treatment’ of expense

Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about...

Quick Updates: