Capital or revenue?
This query is : Resolved
Guest
Guest
(Querist)
29 August 2011
if a director purcahse a machinery out side of india traveling expense called capital expenditure........and my ouestion is if a director purchase a machinery out side of india but he is not able to purchase machine due to not a good quality etc....e when travelling expense called...revenue or capital?
29 August 2011
We can put it in different manner that the director travelling aboard for inspection of machinery to be purchased by the company but finally he could not select the machinery and the trip was not fruitful. Now, one thing to be noted that what was the offer for inspection of machinery and was it need by the company at all? If Yes, then it is a revenue expenses. Burt if it is found later on that the director has just gone to abroad for site seeing and for no business then the ITO will disallow.
Message likes :
1 times
Guest
Guest
(Querist)
29 August 2011
thnks sir ..this question put my (aoc delhi)faculty but he could not answered giving my question!! thanks a lot sir!!!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
