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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Nature of expenditure incurred on subscription and purchase of ...

Income Tax

January 25, 2017

Nature of expenditure incurred on subscription and purchase of office and general purpose books - the books in question update it about latest research developments in the field - Held as Revenue in nature - AT

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  2. Nature of expenditure - fertility improvement program amongst milk animals - The expenditure was general in nature and to be allowed as revenue expenditure.

  3. Capital or Revenue expenses – The number of entries for purchase of software tools is running into 170 - thus, the expenditure incurred by the assessee was revenue in...

  4. If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT

  5. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

  6. 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...

  7. Renovation expenditure as capital expenditure - payment towards purchase of furniture and fixture for new office have been incurred for purchase of furniture and fixture...

  8. Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

  9. Die tooling charges as revenue expenditure or capital expenditure - It was held to be revenue in nature since the expenditure were incurred for modernization of existing...

  10. Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy...

 

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