Development of property
This query is : Resolved
07 August 2011
How should expenditure incurred for development of property be treated?
07 August 2011
If property is a 'capital asset' development expenses may be capitialized.
On the other hand property forms part of 'stock in trade', then development cost can be expensed out as revenue expenditure.
On the other hand property forms part of 'stock in trade', then development cost can be expensed out as revenue expenditure.
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