Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 881 - GUJARAT HIGH COURTNature of expenditure - Animal Breeding & Co-operative Development Expenses - revenue or capital expenditure - HELD THAT:- As decided in THE PANCHMAHAL DIST. CO-OPERATIVE MILK (SIC) UNION LTD [2018 (12) TMI 1657 - GUJARAT HIGH COURT] expenditure incurred by the assessee was general in nature and aimed at improving the practices for better fertility amongst milch animals by addressing the issues which caused infertility. The expenditure, therefore, was for the purpose of its business and would not be co-relatable to any tangible returns which can be expected out of such expenditure. Thus, this court has held that such expenditure incurred by the assessee is not capital in nature. - Decided in favour of assessee.
|