Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Expenses incurred for reconditioning of over aged buses – body, ...

Income Tax

June 21, 2014

Expenses incurred for reconditioning of over aged buses – body, engine of the buses are not replaced, but it is only repairing of ware and tare - expenditure are revenue in nature - HC

View Source

 


 

You may also like:

  1. Expenses incurred for replacing non-Y2K compliant computer with Y2K compliant computer - the expenditure was for replacement of a system within a larger system which is...

  2. Classification of supply - Job work - supply of goods or supply of services - activity of Bus Body Building on the chassis - it is evident that the activity undertaken...

  3. Marketability of goods - bus body parts manufactured and supplied to their divisional office – not available in market no point of levy of duty - AT

  4. Applicable GST rate for bus body building activity - in case the supply made is that of bus, and accordingly supply would attract GST @28%. - In the case as mentioned at...

  5. Section 44C refers to common head office expenses and cannot encompass the expenses exclusively incurred by the expenses incurred by head office employees exclusively...

  6. Classification of supply - supply of goods or supply of services - activity of Bus Body Building on the chassis supplied by the customer on job work basis - The bus body...

  7. Nature of supply - The activity of fabrication and fitting and mounting of bus bodies on the chassis supplied by the other party is a composite supply with supply of...

  8. Classification of services - Fee from parks - Market fee-daily - Market fee-weekly - Fees for bays in bus stand (bus stand entrance fee collection) - Bus -stand...

  9. Commission expenses – The assessee is an authorized dealer of vehicles, buses and others equipments - Merely having friends and relatives, adverse inference cannot be drawn - AT

  10. Nature of expenses - Expenses incurred on Enterprise Resource Planning (“ERP”) and software expenses - revenue or capital expenditure - in today’s fast changing...

 

Quick Updates:Latest Updates