Nature of expenditure - assessee itself has capitalized in the ...

Assessee's Claim of Revenue Expenditure Reclassified as Capital by AO; Not Deductible u/s 37(1) IT Act.

November 7, 2022

Case Laws Income Tax AT

Nature of expenditure - assessee itself has capitalized in the financial statements to the expenditure incurred but the assessee has claimed it as a revenue expenditure - the AO has rightly treated it as capital expenditure after observing the submissions of the assessee that the salary paid towards the expansion activities in Hyderabad, the capital expenditiure incurred by the assessee is not allowable u/s 37(1) - AT

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Nature of expenditure - assessee itself has capitalized in the ...

Assessee's Claim of Revenue Expenditure Reclassified as Capital by AO; Not Deductible u/s 37(1) IT Act.

November 7, 2022

Case Laws Income Tax AT

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