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2009 (4) TMI 34 - HC - Income TaxWhether Tribunal was right in holding that expenditure on renting and maintaining a guest house is allowable as business expenditure – in view of decision of Supreme Court in the case of Britannai Industries Ltd., this question is answered in favour of the revenue - Whether Tribunal was right in excluding sales tax and excise duty from the “total turnover” for the purpose of calculation of benefit u/s 80HHC – Held, yes - Whether Tribunal was right in allowing a deduction of the amounts spent on replacement of machinery and purchase of templates as revenue expenditure – replacement of assets without increasing the production capacity would amount to revenue expenditure – but as there is no material regarding the production capacity remaining constant even after replacement, matter require to be remitted back to the Commissioner of Appeals
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