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Deductibility of an expenditure u/s 57(iii)

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(Querist)
06 January 2016
What is the difference between dis allowance of expenditure and Deductibility of an Expenditure u/s 57(iii) of the Act

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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
06 January 2016 "Disallowance": The expenditure which is not allowable. U/s 57(iii) Capital Expenditures, say Machinery Purchased , is not allowed from the rental income of the machinery.
"Deductibility"- Expenditure directly related with the earning of income can be deducted from the income or can be claimed against the income. Say, to maintain the machine given on hire , normal repairs have been carried out by the owner.
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