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Income Tax - Highlights / Catch Notes

Home Highlights February 2013 Year 2013 This

Expenditure on construction/renovation of leased buildings - ...


Construction or Renovation Costs for Leased Buildings Classified as Capital Expenses for Tax Purposes.

February 12, 2013

Case Laws     Income Tax     AT

Expenditure on construction/renovation of leased buildings - revenue v/s capital - held ass capital in nature - AT

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  1. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

  2. Disallowance of expenses incurred for construction of buildings in leased out lands as capital expenditure - Lands taken on lease and constructions made thereon - HC...

  3. Renovation expenses – lease building – The building that was taken on lease remained intact. What has been done was only to create a better working environment. -...

  4. Capitalization of regularization fee paid - Construction of hospital building - The assessee has rightly booked the payment under the cost of construction of the...

  5. ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

  6. Refund claim of input service tax credit - input service or not - Erection, Commissioning & Installation Services - Construction or execution of works contract of a...

  7. The ITAT Delhi ruled on the correct classification of income from property lease - whether as rental income, business income, or other sources. The lease agreement...

  8. Capital gain computation - cost of acquisition as well as cost of construction - AO has not even attempted to verify the correctness of the cost of land and construction...

  9. Extensive renovation expenditure on leased premises - capital or revenue - in view of Explanation 1 to Section 32, it has become immaterial as to whether the assessee is...

  10. Profit from sale of flat - treated as income from capital gain OR business income - The assessee has not incurred any expenses towards construction of building nor it...

  11. Capital Gains - Cost of construction and indexation disallowed – proof of construction of building on land - If the examination of balance sheets reveals that there was...

  12. Undisclosed investment - The assessee failed to maintain quantitative details of major building material used in the construction of the building - In view of the cost...

  13. CENVAT Credit - input service - the appellant would be entitled to avail CENVAT credit of the input service received in relation to renovation or repairs of factory and...

  14. LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

  15. Long term capital gain on sale of plot of land - Cost of improvement being the cost of construction of boundary wall - Having regard to the facts and circumstances of...

 

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