Nature of expenditure - revenue or capital - construction, ...

Expenditure on Vaizag Port berths deemed revenue, not capital, after project cancellation by government; claim allowed.

February 7, 2019

Case Laws Income Tax HC

Nature of expenditure - revenue or capital - construction, equipping, operation and maintenance of two berths on Build, Operate and Transport (BOT) basis in the Vaizag Port - there was no enduring benefit obtained by the assessee. It broke down when the Government of India cancelled the tender. - Claim of expenditure allowed.

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Nature of expenditure - revenue or capital - construction, ...

Expenditure on Vaizag Port berths deemed revenue, not capital, after project cancellation by government; claim allowed.

February 7, 2019

Case Laws Income Tax HC

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