PREREQUISITE FOR APPLICABILITY OF SECTION 35AB OF THE INCOME
Last updated: 18 September 2008
Court :
SUPREME COURT OF INDIA
Brief :
For the applicability of section 35AB, the nature of expenditure is required to be decided at the threshold because if the expenditure is found to be revenue in nature, then section 35AB may not apply, however, if it is found to be capital in nature, then the question of amortization and spread over, as contemplated by section 35AB, would certainly come into play.
Citation :
CIT
v.
Swaraj Engines Ltd.
Civil Appeal No. 3347 of 2008
May 6, 2008
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CHEZHIYAN
Published in Income Tax
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