CAPITAL OR REVENUE EXPENDITURE ::

Court :
HC

Brief :
Held by the Hon`ble Bench that, the scheme was introduce for the overall skill level improvement and the only aim was to facilitate the carrying on the business more efficiently and more profitably. Therefore expenditure incurred for achieving optimum manpower utilisation is not capital expenditure.

Citation :
P.I. Industries Ltd. Vs. Asst. Commissioner of Income Tax

Capital or Revenue Expenditure P.I. Industries Ltd. Vs. Asst. Commissioner of Income Tax 07/28/2006 [2007] 294 ITR (AT) 206 (Jodhpur) Case Fact: Whether, expenditure incurred for achieving optimum manpower utilisation is capital expenditure? Decision: Held by the Hon`ble Bench that, the scheme was introduce for the overall skill level improvement and the only aim was to facilitate the carrying on the business more efficiently and more profitably. Therefore expenditure incurred for achieving optimum manpower utilisation is not capital expenditure.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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