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Revenue expenditure - purchase of mobile phones by company for employees
A company has purchased mobile phones ranging between 4000 to 8000 for its employees as a normal business activity and classified it as revenue expenditure.
Can anyone provide me with case laws for allowing it as revenue expense (based on materiality concept) since the turnover of the company is around 150 cr
Replies (1)
its a capital expenditure and need to claim depreciation on capitalisation of expenditure.
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