Once expenditure was of revenue nature and was incurred for ...

Income Tax

August 17, 2013

Once expenditure was of revenue nature and was incurred for expanding existing line of business it could have been allowed under Section 37 of the Act. - No doubt, assessee's claim was only for one-third of total outgo. - However, for this reason alone, a disallowance could not have been made - AT

View Source

← Previous Next →

Once expenditure was of revenue nature and was incurred for ...

Income Tax

August 17, 2013

You may also like:

Product Design Development expenditure - revenue or capital expenditure - not incurred for development of a new product or new line of business - The expenditure...

Die tooling charges as revenue expenditure or capital expenditure - It was held to be revenue in nature since the expenditure were incurred for modernization of existing...

Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

Nature of expenses - AO incorrectly applied matching principle for making disallowance, as he over looked the same line of business of the asessee where sales of...

Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

Nature of expenditure - Disallowing revenue expenditure on product testing prototyping and verification expenses - Expenditure was incurred only up-gradation of existing...

Nature of expenditure - Allowable business expenditure or personal expenditure - education expenses of the daughter - With the logic advanced by assessee, every...

Nature of expenditure - Lease hold improvement expenditure - expenses incurred on design and technical consultancy towards improving the exisiting product in the same...

Nature of expenditure - Revenue expenditure or capital expenditure - expenditure incurred by the Appellant for raising floor height of Godown - The expenditure so...

Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

Expenditure incurred on lease hold property for improvements - revenue or capital expenditure - The assessee therefore, got the business advantage and therefore, the...

Product Development Expenditure incurred in the ordinary course of business for promoting existing brands, sustaining market and to push up the sales is Revenue expenditure

If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT

Expenditure incurred on obtaining a technical report - Power grade coal is the existing business of the assessee. This means improvement in the coal beneficiation...

Quick Updates: