Disallowance of obsolete store and spares - AO, treat the same ...

Assessing Officer Misclassifies Obsolete Stores as Capital Expenditure, Disallowing Section 42 Deductions for Taxpayer.

March 16, 2019

Case Laws Income Tax AT

Disallowance of obsolete store and spares - AO, treat the same as capital expenditure and did not constitute stock-in-trade and deduction u/s 42 could be allowed to the assessee for capital expenditure as and when the same are certified by the Auditors - it can't be treated as capital expenditure for the assessee.

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Disallowance of obsolete store and spares - AO, treat the same ...

Assessing Officer Misclassifies Obsolete Stores as Capital Expenditure, Disallowing Section 42 Deductions for Taxpayer.

March 16, 2019

Case Laws Income Tax AT

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