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

In case of temporary suspension of business, there is nothing to ...

Income Tax

October 28, 2015

In case of temporary suspension of business, there is nothing to show that the business has been abandoned permanently and expenditure incurred to keep the business alive in the hope of reviving the same is business expenditure allowable under sec. 37(1) - AT

View Source

 


 

You may also like:

  1. Disallowance of expenditure owing to suspension of business operations - To our mind, not carrying on any business activities during a particular period cannot be...

  2. Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

  3. The expenditure made for construction/acquisition of new facility subsequently abandoned at the work-inprogress stage was allowable as incurred wholly or exclusively for...

  4. Disallowance of expenses on temporary suspension of the business - mere non conduct of hotel business in the previous year due to the temporary suspension thereof by the...

  5. Deduction u/s 37(1) - the SPV was wound up and since no consideration was received by the assessee on account of winding up of the SPV, the entire investment in JSHL was...

  6. Disallowance of interest expenses u/s.36(1)(iii) - Once project is abandoned, it seizes to become eligible asset to capitalize borrowing cost to the work in progress...

  7. Revenue or Capital Expenditure - Temporary structure by means of false ceiling and office renovation had not resulted in any capital expenditure - HC

  8. Rule 9A does not apply to abandoned feature films and that the expenditure incurred on such abandoned feature films is not to be treated as a capital expenditure. The...

  9. Writing off towards software capital work-in-progress - It is not a case where the assessee purchased certain plant and machinery or incurred certain capital costs which...

  10. Continuation of suspension of ‘customs broker’ licence - such instances of suspension should be followed by proceedings, including issue of chargesheet within the...

 

Quick Updates:Latest Updates