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Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Allowability of revenue expenses in construction business - ...


Construction Costs: Assured Returns to Customers Must Be Capitalized, Not Revenue Expenses, in Construction Projects.

April 5, 2019

Case Laws     Income Tax     AT

Allowability of revenue expenses in construction business - giving assured returns to customers from whom capital was received should form part of construction project and should be capitalized - these expenses are not in nature of ‘selling cost’

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