Nature of expenditure - Allowability of general management fees ...

Income Tax

June 24, 2022

Nature of expenditure - Allowability of general management fees incurred when the assessee is still in the process of completing the project of IT/ITES project - the revenue expenditure incurred till the business is set-up should only add to the capital cost of the project. - The doctrine res-judicata has no application to the income-tax proceedings merely because the claim came to be in the earlier years, it is does not mean that the Assessing Officer should allow the same when he is conscious of the non-allowability of the claim in view of well settled position of law in this issue. - AT

View Source

← Previous Next →

Nature of expenditure - Allowability of general management fees ...

Income Tax

June 24, 2022

You may also like:

Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

The expenditure incurred by the assessee towards royalty and fee for technical assistance in pursuance of the licence agreement were revenue expenditure and not capital...

Allowability of Medical expenses for staff / Director - keeping the principal of “commercial expediency” the assessee incurred the expenditure on his hospitalisation and...

Nature of expenditure - fertility improvement program amongst milk animals - The expenditure was general in nature and to be allowed as revenue expenditure.

If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT

Management consultancy service or merely reimbursement of expenditure - providing General support services, Operational services, Personal services and Secretarial...

Allowability of expenses of abundant project - there is no allegation that the expenditure incurred by the assessee is capital in nature - It is also not the case of the...

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...

Allowability as revenue expenditure - payment made by the appellant to the landlord for his consent to the reconstruction of the building - held as Revenue in nature - HC

Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

Quick Updates: