income tax deduction u/s 37
This query is : Resolved
nitesh kumar
(Querist)
02 March 2010
the company started its expansion capacity and the expenditure incurred till now was put under work in progress head.
but now the company has put down the expansion plans and to stop the work with no intention of continuin it.
can the company claim the expenditure incurred till now as deduction u/s 37 of the income tax act?
but now the company has put down the expansion plans and to stop the work with no intention of continuin it.
can the company claim the expenditure incurred till now as deduction u/s 37 of the income tax act?
CA Shishir
(Expert)
02 March 2010
Unless any capital expenditure is accounted under the WIP, you can claim the expenditure
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