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Capital Expenditure

Transfer Fee Paid in Connection with Transfer of Licence is Capital Expenditure and Hence Deductible From Taxable Income: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT) Pune, has, in a recent appeal filed before it, held that transfer fee paid in connection with the transfer...

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]

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

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...

Capital Subsidy received on 90% of Project Capital Expenditure liable to GST: AAR [Read Order]

The Orissa Authority of Advance Ruling (AAR), ruled that the Capital Subsidy received on 90% of Project Capital Expenditure is liable to Goods and Service Tax (GST). The applicant, M/s Surya...

GST: Co-Housing Societies can’t avail Input Tax Credit on Lift Installation Charges, rules AAAR [Read Order]

The Maharashtra Appellate Authority of Advance Ruling (AAAR) while upholding the AAR’s ruling held that the Co-Housing Societies can not avail Input Tax Credit (ITC) on lift installation charges. ...

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