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Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Die tooling charges as revenue expenditure or capital ...

Income Tax

October 24, 2013

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 projects - AT

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  1. Disallowance being tools and dies written off - The expenditure incurred on dies and tools is a recurring revenue expenditure and no capital asset of enduring benefit...

  2. Capital or Revenue expenses – The number of entries for purchase of software tools is running into 170 - thus, the expenditure incurred by the assessee was revenue in...

  3. Nature of expenditure - purchase of tools and spares - revenue or capital expenditure - The test of enduring benefit is not the only criteria for concluding an item to...

  4. Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure and not as capital expenditure - HC

  5. Valuation - the amortisation cost of modification charges of the dies has to be included in the assessable value of the goods manufactured with the help of such...

  6. Revenue or capital expenditure - "demolition charges" and the "repairing charges", were held to be admissible to the assessee.- HC

  7. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

  8. 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...

  9. Nature of expenses – Capital OR Revenue – GPA registration charges - The entire expenditure is completely revenue in nature since it is incurred for carrying out the...

  10. Allowance of hoarding expenses - capital expenditure or revenue expenditure - deduction on account of hoarding expenditure being in the nature of revenue expenditure allowed - AT

 

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