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 October 2012 Year 2012 This

As the business in respect of which the said development cost ...


Development Costs of Discontinued Business Not Claimable as Revenue Expenditure for New Real Estate Ventures.

October 17, 2012

Case Laws     Income Tax     AT

As the business in respect of which the said development cost has been incurred is discontinued, the same cannot be claimed as revenue expenditure in respect of another business being real estate business, just because the land has been converted into stock in trade for the present busines - AT

View Source

 


 

You may also like:

  1. Research and Development expenditure i.e. G.E.Linear Development Expenditure, Eaton Project Development - the expenditure did not reflect that any new capital asset had...

  2. Product development cost as revenue expenditure - dyes brought an advantage of an enduring nature to the assessee - not allowed as revenue expenditure - to be...

  3. The key issue relates to the classification of the cost of silt as capital or revenue expenditure. The Assessing Officer (AO) treated it as capital expenditure and...

  4. Disallowing claim of expenditure - non-carrying of business activity during the year under reference - The case involved an appeal by an assessee against the...

  5. Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

  6. Product Design Development expenditure - revenue or capital expenditure - not incurred for development of a new product or new line of business - The expenditure...

  7. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

  8. Revenue or capital expenditure – software development expenditure – Assessee had treated the expenditure as a deferred revenue expenditure in the books of account and...

  9. Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

  10. Disallowance of business loss of discontinued business: Deduction for expenditure incurred towards professional charges, consultancy charges, ESI arrears, and bank...

  11. Since the Company had not commenced its business of development of SEZ/Real Estate, the expenditure claimed could not have been treated as the expenditure incurred for...

  12. Development of software - a revenue expenditure or capital expenditure? - only a revenue expenditure - HC

  13. Periphery Development Expenses - Disallowance of expenses as only objection raised by the ld. AO is that some of the expenditure debited by the assessee cannot be termed...

  14. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  15. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

 

Quick Updates:Latest Updates