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Income Tax - Highlights / Catch Notes

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Nature of expenditure - Revenue expenditure u/s 37(1) or ...

Income Tax

Nature of expenditure - Revenue expenditure u/s 37(1) or capital expenditure - royalty payment for user of technical know-how and intellectual property rights along with the right to manufacture for a temporary period - the assessee has incurred an expenditure which gives him enduring benefit, therefore, the same has to be treated as capital expenditure. - HC

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  1. Royalty & lump sum fee – The payment of lump sum fees for the technical know-how and the royalty is allowable as revenue expenditure - AT

  2. Nature of expenditure - amount paid as fee for user of know-how - capital expenditure or revenue expenditure - where an assessee who is engaged in the business of...

  3. Royalty payment - in the nature of expenditure incurred for carrying on business with available know-how - revenue expenditure - HC

  4. 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...

  5. 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...

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  7. Nature of expenses on Technical know-how fee - such technical know-how was used for the purpose of manufacturing the existing items - held as revenue expenditure - HC

  8. Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

  9. Payment for know-how - deductible under Section 37 as a Revenue expenditure OR Section 35AB? - said expenditure qualifies for deduction u/s 37 - HC

  10. Expenses on advertisement - creation of brand value - capital or revenue in nature - it has been rightly treated by it as revenue expenditure, admissible u/s.37(1) of...

 

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