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 October 2015 Year 2015 This

Sale of wastages - revenue v/s capital receipt - If it is sale ...


Classifying Waste Material Sales: Impact on Project Costs vs. Revenue Receipts in Construction.

October 23, 2015

Case Laws     Income Tax     AT

Sale of wastages - revenue v/s capital receipt - If it is sale of waste materials generated during the course of construction activities, it would reduce the cost of project; otherwise it would also be revenue receipt. - AT

View Source

 


 

You may also like:

  1. Nature of receipts - treatment to toll charges during the project construction - capital receipt or revenue receipts - toll receipts received during the period of...

  2. Disallowance of sales commission paid to two Associated Enterprises (AEs) being foreign entities - assessee failed to discharge the onus of proving legitimate business...

  3. Deduction of interest expenditure of INR u/s 36(1)(iii) - the Assessee has undertaken only one redevelopment project. It is not disputed that interest cost is directly...

  4. Addition of different amounts made towards amount received for sale of Transferable Developmental Rights (TDR) - Income or current liability - assessee’s income from TDR...

  5. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

  6. Capital Receipt vs Revenue Receipt - Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed - AT

  7. Taxability of Cash compensation received – capital receipt vs Revenue receipt - Capital receipt in principle is outside the scope of income chargeable to tax. .... - AT

  8. Nature of receipt - sales tax subsidy - revenue or capital receipt - The ITAT has committed a manifest error law - The receipts have been shown by the...

  9. Income from sale of carbon credits - Capital receipts vs Revenue receipts - No asset is generated in the course of business but it is generated due to environmental...

  10. Income accrued India - applying the tax rate as per section 115A OR tax rate as per the DTAA between India and Spain - in all cases of concessional taxation on gross...

  11. Receipt of compensation on termination of distributorship agreement is in the nature of revenue receipt - HC

  12. Tax collected at source (TCS) u/s 206C on sale of scrap - Revenue treated assessee as "defaulter" for non-collection of TCS u/s 206C. Held: Sale categorized into three...

  13. Determination of correct profits - percentage completion method - real estate development - when a stage is arrived that risk and rewards shift from the developer to...

  14. Characterization of income - forfeiture of earnest money from the contractors, forfeited and appropriated by the assessee - The commercial operations of the power plant...

  15. Taxable event - Completion of contract - profit on sale of the flats - Advance received from VGP which in fact is the sale proceeds of the flats, on completion of the...

 

Quick Updates:Latest Updates