TMI BlogCapital vs revenue expenditure – Following the matching concept, the materiality concept and Accounting...Capital vs revenue expenditure – Following the matching concept, the materiality concept and Accounting Standard AS 26 in the assessee's case before us, the amount of Rs.15 lakhs claimed as expenses towards corporate membership for a period of 15 years has to be apportioned in ten years proportionately from the date of obtaining the membership. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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