expenses incurred on change of land use
This query is : Resolved
20 November 2010
Dear all,
we have incurred expenses on change of land use from agriculture to commercial. now, please advice this is revenue nature or capital nature.
pls advice case law if any in this regards.
Brgds,
Ritesh
we have incurred expenses on change of land use from agriculture to commercial. now, please advice this is revenue nature or capital nature.
pls advice case law if any in this regards.
Brgds,
Ritesh
20 November 2010
Capital Nature, any expenses incurred to develope any land will increase market value of land, and it is added in the cost of land. So it is Capital Nature and incresed the vlaue of land. You should capitalise it.
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