[aaykarbhavan] Exp. on construction of temporary structure on leasehold it to meet business needs was revenue receipt

 

Exp. on construction of temporary structure on leasehold land to meet business needs was revenue receipt

April 14, 2014[2014] 43 taxmann.com 398 (Gujarat)

IT : Where assessee to run its milk parlour put up structure on a leased land and in next year because of non renewal of agreement said structure was demolished, expenditure incurred on construction of structure was allowable as revenue expenditure

IT : Where assessee during assessment year 2002-03 made donation to tune of Rs. 5.25 crores to a trust in Kutch Earthquake Relief Fund and claimed deduction under section 80G and Assessing Officer having found that donee had not made full utilisation of funds, nor had transferred unutilised fund in Prime Minister's Relief Fund disallowed a sum of Rs. 4.48 crores, Assessing Officer was not justified in his view inasmuch as any tax in hands of assessee on amount of Rs. 4.48 crores would amount to double taxation

Regards

Prarthana Jalan

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