Rectification of mistake - The correct rate of depreciation can ...

Depreciation Rate Errors Fixable u/s 154; Capital vs. Revenue Expenditures Not Addressable in Same Proceedings.

September 17, 2015

Case Laws Income Tax AT

Rectification of mistake - The correct rate of depreciation can be an issue of apparent mistake and it can be decided in the proceedings u/s 154 but whether the expenditure is capital or revenue is a highly debatable issue and such claim cannot be entertained and decided in 154 proceedings - AT

View Source

← Previous Next →

Rectification of mistake - The correct rate of depreciation can ...

Depreciation Rate Errors Fixable u/s 154; Capital vs. Revenue Expenditures Not Addressable in Same Proceedings.

September 17, 2015

Case Laws Income Tax AT

You may also like:

Capital expenditure vs Revenue expenditure - expenditure on payment of lease rent and maintenance of the pipeline as per Build, Own, Operate, Transfer (BOOT) contract -...

Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

ITAT adjudicated expenditure classification for machinery hydraulic system replacement. The tribunal determined that replacement of hydraulic system with electrical...

Disallowance of non-compete fees - Capital or revenue expenditure - expenditure has to be disallowed as capital expenditure - however depreciation to be allowed - AT

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

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...

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

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

Rectification u/s 154 - under-assessment of income qua the foregoing depreciation/additional depreciation issue(s) - The Tribunal considered the Revenue’s contentions...

Disallowance of software expenses - Disallowance is in respect of expenditure claimed towards “repairs - computers-annual maintenance” and “Repairs-computers-others” -...

Depreciation on boiler - CIT (A) has not committed any error in allowing depreciation at the correct rate even though the assessee had claimed depreciation at a lesser...

Capital expenditure vs Revenue expenditure - any expenditure on replacement or repairs to plant and machinery which does not bring into existence any enduring or...

Rectification of mistake u/s 154 - tax paid on more than one occasion, and claims its refund u/s 154 - The High Court referred to Article 265 of the Constitution of...

Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

Revenue expenditure vs. capital expenditure - assessee being in hotel industry, the expenditure incurred for interior decoration with a view to provide a comfortable...

Quick Updates: