current repairs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2010
whether replacement of worn out spindles in a textile mill is a revenue expenditure
02 February 2010
Any replacement in the fixed asset is a revenue expenditure unless it increases the capacity or life of the fixed asset
In your case if the replacement does not increase the capacity or life of the fixed asset then it is a revenue expenditure
In your case if the replacement does not increase the capacity or life of the fixed asset then it is a revenue expenditure
02 February 2010
Agree. CA Varun is right.
02 February 2010
AGREE
03 February 2010
Can be claimed as revenue expenditure in view of the Karnataka High Court decision in
CIT Vs. Sagar Talkies (2008) 173 Taxman 12 (Karn).
In the cited case court concluded that expenditure on account of replacement of old worn out mono sound system with a new stereo system is revenue expenditure.
CIT Vs. Sagar Talkies (2008) 173 Taxman 12 (Karn).
In the cited case court concluded that expenditure on account of replacement of old worn out mono sound system with a new stereo system is revenue expenditure.
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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
