Revenue or Capital expenditure – replacement/ overhauling/ ...

Replacement and overhauling costs to maintain existing assets are revenue expenditures, classified as current repairs.

October 26, 2012

Case Laws Income Tax AT

Revenue or Capital expenditure – replacement/ overhauling/ rejuvenation - to preserve and maintain already existing asset - allowed as current repairs - AT

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Revenue or Capital expenditure – replacement/ overhauling/ ...

Replacement and overhauling costs to maintain existing assets are revenue expenditures, classified as current repairs.

October 26, 2012

Case Laws Income Tax AT

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