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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Income Tax - Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

Income Tax

December 30, 2013

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

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  1. Bond issue expenses – Revenue or capital - The business had commenced much earlier and not during the year. - expenditure is revenue in nature - HC

  2. Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

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

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

  5. Revenue or Capital Expenditure - advertisement expense of Rs.1,36,88,928/- Expenditure are revenue in nature.... - HC

  6. 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...

  7. Expense incurred upon construction of the drain for release of effluents have conferred benefit of an enduring nature upon the assessee - held as capital expenditure and...

  8. Expenses on advertisement - creation of brand value - capital or revenue in nature - it has been rightly treated by it as revenue expenditure, admissible u/s.37(1) of...

  9. 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...

  10. 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...

 

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