Rinky Gupta (-) (117 Points)
28 March 2014i would like to get citations of a few case laws where it has been stated that when an expenditure has been made incurred for the purpose of setting up a new project but since the project was not started, the expenditure will qualify as a revenue expenditure.
Uday
(Auditor)
(25 Points)
Replied 28 March 2014
More Facts are required :
a) What sort of a project are you referring to ie., are you referring to capital expenditure as "Projects" ?
b) Nature of business that the company is engaged in.. this is critical to identify the nature of expenditure.
c) From when the project has been put on hold ie., depending on (a) is this a longer item in CWIP ?
Rinky Gupta
(-)
(117 Points)
Replied 28 March 2014
| Originally posted by : Uday | ||
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no the project of setting up a business unit the company is engaged i letting and sub letting places for IT sector the project has been banned via a notification from Govt of India. |
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CAclubindia
