Penalty Imposed u/s 271(1)(c) for Unjustified Repair and Maintenance Expenses; Asset Completion Defined by Working Condition.

Penalty u/s 271(1)(c) – disallowances, i.e., qua repair and maintenance and depreciation - The construction or the acquisition of an asset cannot be said to be complete prior to it attaining a working condition - no justification to incur such huge expenditure on repair - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X