Sale of Plant and machinery within short span of acquisition - ...

Revenue Authorities Erroneously Classify Newly Acquired Equipment as Scrap, Denying Cost Adjustment Against Sale Proceeds.

September 16, 2022

Case Laws Income Tax AT

Sale of Plant and machinery within short span of acquisition - Revenue treated the same as Scrap - denying adjustment of cost of acquisition against the consideration - The fact of the asset being sold within a very short period of acquiring is not relevant for determining its character as scrap. - AT

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Sale of Plant and machinery within short span of acquisition - ...

Revenue Authorities Erroneously Classify Newly Acquired Equipment as Scrap, Denying Cost Adjustment Against Sale Proceeds.

September 16, 2022

Case Laws Income Tax AT

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