Home Highlights August 2018 Year 2018 This

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

2. 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...

3. Expenditure on construction of house of labourer - revenue v/s capital expenditure - when the structure does not vest in the assessee and it has to pay monthly rent...

4. Nature of receipts - treatment to toll charges during the project construction - capital receipt or revenue receipts - toll receipts received during the period of...

5. Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

6. Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

7. Prior period expenditure - Whether Tribunal is right in holding that the expenditure was crystalized during the relevant previous year when the assessee hijmself has...

8. Expenditure incurred on improvement/additions to leasehold property - The expenditure incurred by the assessee on construction of storage structure etc. has to be...

9. Treatment of expenditure - Revenue or capital expenditure - A sum as represent expenditure incurred in respect of acquisitions which never materialised and hence,...

10. 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...

11. Nature of expenditure - assessee itself has capitalized in the financial statements to the expenditure incurred but the assessee has claimed it as a revenue expenditure...

12. Revenue expenditure or capital expenditure - The assessee contributed towards part of the expenditure for construction of a bridge to prevent the sea water entering...

13. Expenditure incurred on lease hold property for improvements - revenue or capital expenditure - The assessee therefore, got the business advantage and therefore, the...

14. Expenses on account of construction - Charitable Trust - the assessee started the construction activity in earlier years i.e. A.Ys. 2010-11, 2011-12, 2012-13 & 2014-15...

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