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 July 2021 Year 2021 This

Nature of expenditure - new dyes expenditure claims - The dies ...

Case Laws     Income Tax

July 21, 2021

Nature of expenditure - new dyes expenditure claims - The dies are made as per project wise or the product wise and keeps changing for the other project - such dyes come under revenue head of expenditure than capital only. - AT

View Source

 


 

You may also like:

  1. Die tooling charges as revenue expenditure or capital expenditure - It was held to be revenue in nature since the expenditure were incurred for modernization of existing...

  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. Nature of expenditure - Disallowing revenue expenditure on product testing prototyping and verification expenses - Expenditure was incurred only up-gradation of existing...

  4. Nature of expenditure - Allowability of general management fees incurred when the assessee is still in the process of completing the project of IT/ITES project - the...

  5. Nature of expenditure - when the expenditure was incurred, the project had not begun - There cannot be any absolute proposition of law that every expenditure made prior...

  6. Benefit of Exemption - When the dyed yarn is made out of twisted yarn and the twisted yarn in turn is made out of duty paid or draw twisted yarn the dyed yarn is also to...

  7. Nature of expenditure - amount paid as fee for user of know-how - capital expenditure or revenue expenditure - where an assessee who is engaged in the business of...

  8. Rate of GST - unbooked 11 units in the project , which did not get the approval for villa from local authorities before 31.03.2019 - levy of old GST rate or new GST rate...

  9. Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

  10. 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...

  11. Project is falling under "other than On-going Projects" - New project or not - The Notification No. 03/2019 makes a distinction between ‘Ongoing project’ in clause (xx)...

  12. Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy...

  13. The assessee, a pharmaceutical company, claimed deduction u/s 80-IE for its units located in Sikkim. The Assessing Officer (AO) allocated the Research and Development...

  14. Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

  15. Disallowance being tools and dies written off - The expenditure incurred on dies and tools is a recurring revenue expenditure and no capital asset of enduring benefit...

 

Quick Updates:Latest Updates