Home Highlights December 2012 Year 2012 This

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1. Revenue versus Capital expenditure - The expenditure incurred on Printer, Scanner and Web Camare cannot be said to be replacement of the spares /defective parts of the...

2. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

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

4. Staff training expenses – Capital or revenue - The training expenses incurred for training of staff members for employing them in the business of the appellant is...

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

6. Annual web hosting charges treated as prior period expenses – AO is directed to verify and examine the claim of the assessee - AT

7. Stock Appreciation right expenses claimed by the appellant is not in a capital expenses, but revenue expenditure and ascertained liability therefore it is allowable expenses - AT

8. Stock Appreciation right expenses claimed by the appellant is not in a capital expenses, but revenue expenditure and ascertained liability therefore it is allowable expenses - AT

9. Baggage Rules - high value electronic items - the addresses of web sites from where the values are taken are not mentioned. Copies or screenshots of websites displaying...

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