Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2012 Year 2012 This

Entitlement under Rule 7A of ITR for deduction of expenditure ...

Case Laws     Income Tax

June 25, 2012

Entitlement under Rule 7A of ITR for deduction of expenditure incurred on replantation of rubber - Expenditure incurred for planting and development of the plantation up to maturity has to be necessarily capitalised and is not allowable as a revenue expenditure. - HC

View Source

 


 

You may also like:

  1. Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it...

  2. Deduction u/s 35(2AB) - Expenditure which was not eligible for weighted deduction u/s 35(2AB) - scientific research and development expenditure - such R&D expenditure...

  3. 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...

  4. Weighted deduction u/s.35(2AB) - capital and revenue expenditure incurred on in-house R & D facility - It is not in dispute that the Assessee in the present case...

  5. Disallowance of claim of deduction on cost of replanting under Rule 7A - The assessee does not have a case that the expenses incurred under the head replanting and...

  6. Nature of expenditure - Expenditure incurred by the assessee towards repairs and renovation of the premises to house the branch - if the expenditure incurred by the...

  7. Claim of Expenditure on hawala business - Assessee also did not submit any proof of incurring any expenditure. Income was also not assessed on net basis @ 0.30 %. No...

  8. In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

  9. Agricultural income - In the computation of business income under Rule 7A of the Rule 1962, the assessee under Rule 7A(2) is entitled to an allowance in respect of the...

  10. Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

  11. Deduction u/s 57(iii) - As long as the purpose of incurring expenditure is to earn income, the expenditure would have to be allowed as a deduction under Section 57(iii)...

  12. Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary....

  13. Deduction of expenditure incurred in earning income u/s 56 - assessee is a Thrift and Credit Society - the source is inextricable to the nature of the expenditure -...

  14. Income tax case involving disallowance of expenses incurred by a company for maintaining a guest house. The legal ownership of the guest house was with the company...

  15. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

 

Quick Updates:Latest Updates