Nature of expenditure - expenditure on repair works - The ...

Expenditure Classification: Repair Costs May Be Revenue or Capital Based on Circumstances, Not Just Scale or Frequency.

September 19, 2022

Case Laws Income Tax AT

Nature of expenditure - expenditure on repair works - The expenditure being huge is not the consideration to decide whether it is revenue or capital expenditure. The expenditure can be one time affair or recurring affair. Determination of capital or revenue expenditure is totally based on the circumstances of each case. - AT

View Source

← Previous Next →

Nature of expenditure - expenditure on repair works - The ...

Expenditure Classification: Repair Costs May Be Revenue or Capital Based on Circumstances, Not Just Scale or Frequency.

September 19, 2022

Case Laws Income Tax AT

You may also like:

Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

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...

Nature of expenses - repair and maintenance - revenue or capital expenditure - current repair u/s 30 - treatment of expenses incurred on renovation and refurbishment of...

Capital expenditure or Revenue expenditure - Demutualization expenses - It is true that such expansion of the capital base of the company was required to fulfill the...

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

Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

Disallowance expenditure towards replacement of machinery - Revenue OR Capital - not amounting to "current repairs" and to be not allowed as revenue expenditure - HC

Expenditure on current repair, maintenance and replacement on the leased Thermal power station - revenue expenditure or capital expenditure - HC

Nature of expenses – Capital or revenue – Any expenditure incurred by the assessee towards repairing the premises taken on rent if he has undertaken to bear the cost of...

The ITAT, an Appellate Tribunal, addressed the re-computation of long-term capital gain related to determining the cost of improvement for constructing a concrete bridge...

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...

Capital expenditure vs Revenue expenditure - any expenditure on replacement or repairs to plant and machinery which does not bring into existence any enduring or...

Addition of repairs for excavation of pond, purchase of wood shaft, ply, Burma teak wood, tiles etc. - revenue v/s capital expenditure - the impugned repair expenditure...

Media cost for import of software - Capital expenditure or revenue - Software used for duplication and licensing - expenses allowed as revenue expenditure - HC

Quick Updates: