[aaykarbhavan] HC allowed revenue exp. even if it was claimed for first time in course in assessment proceedings

 

HC allowed revenue exp. even if it was claimed for first time in course in assessment proceedings

April 15, 2015[2015] 55 taxmann.com 477 (Gujarat)

IT: Claim of revenue expenditure made for first time in course of assessment proceeding without revising return of income, was allowable under section 37(1)

IT: Lease rent paid for machinery and equipments taken on lease for establishing a new plant, for period during which new plant had not commenced production, was revenue expenditure

IT: Interest on hire purchase in relation to new plant and interest and commitment charges in relation to expansion of existing plant, were deductible either under section 36(1)(iii) or 37(1)

Regards

Prarthana Jalan

__._,_.___

---

Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

---

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• Privacy • Unsubscribe • Terms of Use