Jewellery Design Charges are revenue in nature

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..... Jewellery Design Charges are revenue in nature
Query (Issue) Started By: - Kamal Agarwal Dated:- 22-12-2015 Last Reply Date:- 23-12-2015 Income Tax
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Income Tax
The assessee i .....

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..... s a in the business of manufacturing of Jewellery. The charges paid for the designing of the jewellery were held as Capital Expenditure so disallowed. Whereas, the assessee is in the business, where d .....

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..... esigning of the product kept changing very frequently. No enduring nature of the expenses of the assessee, nor any asset is came into being Reply By Ganeshan Kalyani: The Reply: It is a revenue expen .....

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..... diture. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Jewelly is not a capital to the assessee. The jewels are to be sold to the ultimate consumers. Therefore the charges paid for the designing of the .....

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..... jewellery are only revenue expenditure.
Discussion Forum - Knowledge Sharing .....

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