Home Highlights May 2012 Year 2012 This

You may also like:

1. Expenditure incurred for modernisation / replacement of machinery is not "current repairs" u/s 31(i) - SC

2. Disallowance expenditure towards replacement of machinery - Revenue OR Capital - not amounting to "current repairs" and to be not allowed as revenue expenditure - HC

3. Expenditure on current repair, maintenance and replacement on the leased Thermal power station - revenue expenditure or capital expenditure - HC

4. Nature of expenses - repair and maintenance - revenue or capital expenditure - current repair u/s 30 - treatment of expenses incurred on renovation and refurbishment of...

5. Nature of expenditure - current repairs - replacement of decayed parts - The assessee explains that the replacement was necessary for the manufacturing process, and...

6. Expenditure for repairs and maintenance to plant & machinery - If the expenditure incurred by the assessee would not result in replacement of old machinery with new,...

7. Revenue or Capital expenditure – replacement/ overhauling/ rejuvenation - to preserve and maintain already existing asset - allowed as current repairs - AT

8. Claim of deduction as Current repairs u/s 31 - when each of the Department/Division perform different functions, repair/substitution of an old machine will not come...

9. 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...

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

11. 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...

12. Nature of expenditure - current repairs - cost of replacement of machineries like Motor Rollers, Spindles, Gears etc. in the Textile Mill - the replacement of the...

13. Capital expenditure vs Revenue expenditure - any expenditure on replacement or repairs to plant and machinery which does not bring into existence any enduring or...

14. Scope of the term Current Repairs - Disallowance of the cost of chamber assembly – Replacing compressor in the air-condition machine and picture tube in the television...

15. Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...