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Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

Expenditure incurred on renovation of showroom was not incurred ...

Income Tax

September 11, 2016

Expenditure incurred on renovation of showroom was not incurred on any capital outlay. Therefore, the expenditure is revenue in nature. - AT

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  1. Disallowances under section 30(1) - expenditure incurred on repair and renovation of renting premises allowed - HC

  2. Expenditure incurred on renovation of showrooms on rented premises - Revenue or capital expenditure - - assessee would continue to be the owner of these equipments,...

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

  4. Benefit of section 54 - Expenditure incurred on improvement/ renovation of the new residential house for the purpose of deduction under section 54 allowed - AT

  5. Expenditure on construction/renovation of leased buildings - revenue v/s capital - held ass capital in nature - AT

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

  7. Nature of expenses - repair and maintenance - revenue or capital expenditure - current repair u/s 30 - treatment of expenses incurred on renovation and refurbishment of...

  8. 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...

  9. Expenditure to be treated as Revenue or Capital Expenditure – Merely because the amount spent has been used for construction of a building or structure of permanent...

  10. Nature of expenditure - expenditure incurred in the renovation and redecoration of rooms in a hotel - It is only an application of legal principle to the given facts....

 

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