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 ...

Income Tax

October 23, 2015

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 - AO directed to treat the Proceeds realized from sale of Certified Emission Reduction (CERs) generated out of Capital Projects registered with UNFCCC...

  2. Disallowance of remuneration to Directors - Although no revenue receipts are generated during the year, however, the company is in existence and has started generating...

  3. 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...

  4. Clandestine Removal of goods - Revenue cannot build its case based upon the theoretical percentage calculation of waste generated, without production of any evidence to...

  5. Treatment of sales tax subsidy - CIT(A) treated it as revenue receipts - , it would be in the nature of capital receipt not liable to tax - AT

  6. Waste and scrap - Regardless of the fact that the use of pipes is essential for production of oil, the pipes by themselves are capital goods and are not inputs. When...

  7. Addition of suppression of income from sale of wastage - assessee has considered the rate of wastage sale generated @ 0.73 per kg in the Books of accounts but has...

  8. Income generated on sale of goods generated on trial run - taxable as revenue or not - if the assessee receives any amounts which are inextricably linked with the...

  9. DTA sale by 100% EOU - wastage in production from Imported Blocks - Challenge the limit of disposal of reject/scraps - Revenue allowed only 2% - Development Commissioner...

  10. Capital receipt or revenue receipt – financial schemes in which deposits were collected from the Public - The assessee is merely a custodian of the deposit - not taxable...

 

Quick Updates:Latest Updates