Home Highlights September 2015 Year 2015 This

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

2. 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...

3. Disallowance of proportionate interest expenditure - capital attributable to project ‘B’ i.e. unfinished project - This interest expenditure disallowed was not related...

4. Deduction u/s 80IA(4) - Disallowance of project facility expenses - Revenue expenses or Capital expenditure - Appellant was engaged in infrastructure development and...

5. Revenue expenditure or capital expenditure - Allowability of expenses on acquisition of clientele and technical human resource i.e., employees to execute the contract -...

6. Capital expenditure vs Revenue expenditure - expenditure on payment of lease rent and maintenance of the pipeline as per Build, Own, Operate, Transfer (BOOT) contract -...

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

8. Professional fees paid to the consultants in relation to cement project - capital expenditure or revenue expenditure? - Held as capital expenditure - HC

9. Disallowance of operating expenses @ 10% - expenses being of unverified, unreasonable and excessive - without pointing out any defects in the bills and vouchers of...

10. Disallowance of interest expenses u/s.36(1)(iii) - Once project is abandoned, it seizes to become eligible asset to capitalize borrowing cost to the work in progress...

11. Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...

12. Die tooling charges as revenue expenditure or capital expenditure - It was held to be revenue in nature since the expenditure were incurred for modernization of existing...

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

14. 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...

15. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...