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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Capital or revenue expenses - Disallowance of royalty - if there ...

Income Tax

November 13, 2013

Capital or revenue expenses - Disallowance of royalty - if there is no sales, no royalty is payable by the assessee - held as revenue in nature - AT

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  1. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

  2. Royalty paid treated as capital expenses - the assessee company did not obtain any proprietary or ownership right of trademark or knowhow, no asset was created or...

  3. Royalty payment - revenue expenditure or capital expenditure - payment is purely revenue in nature, as they provide for payment of license fee for manufacture and sale...

  4. Nature of expenses - payment of royalty - revenue or capital expenditure - Permission to user the name and Trade Mark - Royalty is payable on the basis of Annual Sales...

  5. Disallowance of pre-operating expense for a “Mawa Project” - revenue v/s capital expenditure - expenditure incurred for expansion of the dairy business of the assessee -...

  6. Disallowance of royalty expenses - allowable revenue expenses - It is only in Assessment Year 2005-06, the said payment of royalty has not been allowed in the hands of...

  7. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

  8. Staff training expenses – Capital or revenue - The training expenses incurred for training of staff members for employing them in the business of the appellant is...

  9. Software expenses - revenue v/s capital expenditure - software may be needed like raw material - computer software expenses were revenue in nature - HC

  10. Internet/web site expenses - Capital v/s Revenue - internet/website expenses incurred by the assessee are revenue in nature - AT

 

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