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Income Tax - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Nature expenditure incurred on repairs and maintenance - This ...

Income Tax

March 18, 2016

Nature expenditure incurred on repairs and maintenance - This repair necessitated due to use of high V.M. and low ash contents of imported coal, which resulted in increase in temperature, repair had to be done by using good quality of fire bricks to safeguard the ovens from melting, bending and other damages - allowed as revenue expenditure - AT

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  1. Adhoc disallowance of 20% of total expenditure incurred on repairs and maintenance and treating the same as capital expenditure mechanically and perfunctorily - No...

  2. Whenever the assessee incurs expenditure for repair and maintenance of a building taken on lease for carrying on its business activity, it has to be allowed u/s 30(a)(i) -- AT

  3. The expenditure incurred on such repair and maintenance of approach roads of godowns has not resulted in creation of any capital asset - AT

  4. Management, maintenance and repair services or Business Auxiliary Service - Processing of fly ash for cement factory - prima facie case is in favor of assessee - AT

  5. Expenses incurred on temporary repairs and maintenance on leased premises are in the nature of revenue - AT

  6. Services have been availed for erection, installation & commissioning, repairing and maintenance and insurance of the fly ash extraction plant installed by the appellant...

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