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Income Tax - Highlights / Catch Notes

Home Highlights July 2018 Year 2018 This

Nature of expenses - capital or revenue expenditure - license ...

Income Tax

July 7, 2018

Nature of expenses - capital or revenue expenditure - license expenses towards WAN and local hardware - annual fee - license expenses incurred by assessee do not create any asset but only provides means for running the business - allowed as revenue expenditure.

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  1. The expenditure incurred by the assessee towards royalty and fee for technical assistance in pursuance of the licence agreement were revenue expenditure and not capital...

  2. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

  3. Media cost for import of software - Capital expenditure or revenue - Software used for duplication and licensing - expenses allowed as revenue expenditure - HC

  4. Allowance of hoarding expenses - capital expenditure or revenue expenditure - deduction on account of hoarding expenditure being in the nature of revenue expenditure allowed - AT

  5. Nature of franchise fees paid - capital or revenue expenditure - Right to use the trademark, domino’s name and logo – Exclusive license – Held as revenue expenditure - AT

  6. Royalty payment - revenue expenditure or capital expenditure - payment is purely revenue in nature, as they provide for payment of license fee for manufacture and sale...

  7. Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 -...

  8. Software expenses - revenue v/s capital expenditure - software may be needed like raw material - computer software expenses were revenue in nature - HC

  9. Revenue or Capital Expenditure - advertisement expense of Rs.1,36,88,928/- Expenditure are revenue in nature.... - HC

  10. Nature of expenses – Capital OR Revenue – GPA registration charges - The entire expenditure is completely revenue in nature since it is incurred for carrying out the...

 

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