Allawability of expense

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2010 Respected Sir,

Whether expense incurred for the construction of building & office premises within the factory shall be allowed as expense while computation of profit?

Rasesh

Rasesh (Expert)
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20 February 2010 The exp seemsto be in the natre of capital and should be capitalised.

Exp would be disallowed.

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2010 thanx sir

juzar bohara

juzar bohara (Expert)
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20 February 2010 any expenses incurred for getting or generating any asset should be capitalised & will be capital nature. so the expenditure will not be allowed. however expenses on repairs & maintanance is a revenue type expenditure so that will be allwed as expenses

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 February 2010 It shall be capitalised

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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20 February 2010 yes , it shall be capitalised.

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