Home Highlights February 2013 Year 2013 This

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1. Assessee is entitled for 100% depreciation in respect of vinyl flooring, false ceiling, glass and wooden partitioning, electrical wiring, Net work cabling etc., in the...

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

3. 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...

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

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

6. Nature of expenditure on leased premises for office use - the expenditure incurred on false ceiling as well as partition, glass etc., cannot be held to be creating any...

7. Nature of expenditure - Revenue expenditure u/s 37(1) or capital expenditure - royalty payment for user of technical know-how and intellectual property rights along with...

8. 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...

9. Nature of expenditure - Revenue expenditure or capital expenditure - expenditure incurred by the Appellant for raising floor height of Godown - The expenditure so...

10. Allowance of hoarding expenses - capital expenditure or revenue expenditure - deduction on account of hoarding expenditure being in the nature of revenue expenditure allowed - AT

11. Nature of expenditure - revenue or capital expenditure - legal expenses in connection with structuring of the transaction - merely because the transaction in question is...

12. Allowability of legal & professional fees pertaining to buyback of shares - deduction in respect of expenditure incurred for proceeding of implementation of buyback of...

13. Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 -...

14. 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...

15. 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...