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 July 2015 Year 2015 This

Addition of repairs for excavation of pond, purchase of wood ...

Income Tax

July 8, 2015

Addition of repairs for excavation of pond, purchase of wood shaft, ply, Burma teak wood, tiles etc. - revenue v/s capital expenditure - the impugned repair expenditure would amount to a revenue expense and it would qualify for deduction as repairs and maintenance - AT

View Source

 


 

You may also like:

  1. CENVAT Credit - input services - constructions services used in excavation of ponds etc. - credit pertains to renovation/repair services - some part belongs to repair...

  2. Classification of goods - wastage, firewood, mango wood - the remnants of the logs which has undergone an activity of peeling for purpose of manufacturing ply wood...

  3. Export of prohibited item - item description covered under prohibited wood does not cover blocks that to made exclusively out of imported logs/timber - CHA had...

  4. Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

  5. Classification of Nigerian origin teak rough square logs - classified under heading 4403.4910 or under heading 4407 as "sawn teak wood"? - the classification of the...

  6. Finishing services such as glazing, plastering, painting, floor and wall tilling, wall covering and wall papering, wood and metal joinery and carpentry etc - benefit of...

  7. Expenses on purchase on new items - Acquisition of new assets for replacement of existing assets as current repairs - 10% of items listed by the AO are held to be of capital - AT

  8. Disallowance expenditure towards replacement of machinery - Revenue OR Capital - not amounting to "current repairs" and to be not allowed as revenue expenditure - HC

  9. Removal of over burden and excavation of ore is undertaken for mining of ores only and activity does not fall under Site Formation and Excavation and Earth moving and...

  10. Revenue or Capital expenditure – replacement/ overhauling/ rejuvenation - to preserve and maintain already existing asset - allowed as current repairs - AT

 

Quick Updates:Latest Updates