Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (9) TMI 737 - HC - Income TaxWhether the expense is a capital expenditure of revenue expense in nature – Held that:- Entire expenditure as disclosed in the annual report was on the construction of the works of capital nature i.e. hatcheries, which were under construction. The assessee could not produce the document to bifurcate expenses, which were expended on the construction of hatcheries and those which were expended in the regular business of the Corporation. The findings that the assessee could not explain the expenses, which were incurred on business of the Corporation is a finding of fact - Expenses claimed under the head of work in progress on the units under construction, were of enduring inseparable advantage from the projects to the assessee-corporation - Any administrative expense, which are made on the construction having enduring advantage to the assessee has to be treated as capital expense. It cannot be treated as revenue expenses of the organization – Decided against the Assessee.
|