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 August 2017 Year 2017 This

Expenditure incurred on obtaining a technical report - Power ...


Technical Report Costs for Coal Operations Classified as Revenue Expenditure, Boosting Efficiency in Existing Business Operations.

August 24, 2017

Case Laws     Income Tax     AT

Expenditure incurred on obtaining a technical report - Power grade coal is the existing business of the assessee. This means improvement in the coal beneficiation effects the day to day business of the assessee and improves the operations of the existing business. - Exepenses allowed as revenue expenditure.

View Source

 


 

You may also like:

  1. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  2. The key issue relates to the classification of the cost of silt as capital or revenue expenditure. The Assessing Officer (AO) treated it as capital expenditure and...

  3. Disallowance of inflated coal expenses - the case of the Revenue is that assessee might have inflated cost of the coal, however, once the cost of the coal is part of...

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

  5. Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

  6. Treatment to acquiring technical know - revenue v/s capital expenditure - expenditure incurred for grant of License which accords ‘access’ to technical knowledge, as...

  7. 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...

  8. ITAT adjudicated two key tax issues: (1) repairs and maintenance expenditure disallowance was restricted to 10% after reviewing submitted ledger accounts, upholding...

  9. Valuation- inter-connected undertaking - related parties or not - applicability of doctrine of mutuality of interest - The fact that Appellant 1 and Appellant 2 were not...

  10. HC ruled on multiple expenditure deduction claims by a coal mining entity. The court largely upheld the Tribunal's decision, allowing deductions for education, community...

  11. ITAT affirmed weighted deduction eligibility u/s 35(2AB) for in-house scientific research expenditure. While R&D expenses incurred within India qualify for weighted...

  12. Prior period expenditure - Whether Tribunal is right in holding that the expenditure was crystalized during the relevant previous year when the assessee hijmself has...

  13. Revenue or capital expenditure – software development expenditure – Assessee had treated the expenditure as a deferred revenue expenditure in the books of account and...

  14. Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

  15. Software expenditure having enduring benefit of not more than a year is revenue expenditure

 

Quick Updates:Latest Updates