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Capital Expenditure

Furniture and Maintenance Expenditure does not amount to Capital Expenditure: ITAT [Read Order]

Yogitha S. Yogesh

The Chennai bench of the Income Tax Appellate Tribunal(ITAT) has held that Furniture and Maintenance expenditure does not amount to capital...

Training Expenses that do not result in New Income is not Capital Expenditure: ITAT [Read Order]

Transfer Fee Paid in Connection with Transfer of Licence is Capital Expenditure and Hence Deductible...

Amount paid for Land enhancement is Capital Expenditure, can avail Deduction u/s 48: ITAT [Read...

Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as...

Expenses vouched and Verified incompletely will invalidate the Addition: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Amritsar bench has held that expenses vouched and verified incompletely will invalidate the addition to the Income. Shri Kul Bharat, Judicial member...

Depreciation allowable on Toll Collection Rights: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation under section 32 of the Income Tax Act, 1961 is allowable on toll collection rights as the same would be...

Modification carried out on-premises in Small Scale Repair does not constitute Capital Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Surat Bench has held that modification carried out on-premises in small scale repair does not constitute capital expenditure and deleted the addition of...

Charges can be altered even after reversing Judgement: Madras HC dismisses Plea challenging Alternation of Charges on person accused of Non-Payment of Income Tax Arrears [Read Order]

The Madras High Court while dismissing a plea challenging Alternation of charges on persons accused of non-payment of Income Tax arrears held that Charges can be altered even after reversing...

Relief to Daawat Foods: ITAT allows Depreciation on Capital Expenditure [Read Order]

In a major relief to Daawat Foods, the Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the depreciation on capital expenditure. The assessee, Daawat Foods Ltd. filed the appeal relating...

Lease Holders Expenses are not liable to be Capitalized: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the purpose of taxation. The assessee, Shree...

GST: Activities of Supply, Installation, Operation, Maintenance of Greenfield Public Street Lighting System not classifiable as Works Contract Services, rules AAR [Read Order]

The Orissa Authority of Advance Ruling (AAR) ruled that the activities of supply, installation, operation, maintenance of Greenfield Public Street Lighting System not classifiable as Works Contract...

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