Claim of deduction / loss relating to the 'project expenses' in ...

Taxable Income Calculation Error: Project Expenses Misclassified as Capital Expenditure, Corrected to Revenue Expenditure by AO.

June 25, 2018

Case Laws Income Tax HC

Claim of deduction / loss relating to the 'project expenses' in the computation of taxable total income - AO fell in error in going by the fact that the expenditure was incurred from the capital account forgetting that the test to be applied to ascertain as to whether the expenditure is revenue or capital is not based on where the funds were drawn from. - allowed as revenue expenditure.

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Claim of deduction / loss relating to the 'project expenses' in ...

Taxable Income Calculation Error: Project Expenses Misclassified as Capital Expenditure, Corrected to Revenue Expenditure by AO.

June 25, 2018

Case Laws Income Tax HC

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