Friday, May 10, 2019

Sum forfeited by seller on buyer's failure to pay full instalments for use & purchase of Windmill was capital exp.

IT: Where assessee entered into agreement for use and purchase of a windmill plant for power generation, amount forfeited by seller upon failure to pay full instalments within stipulated time period would be capital expenditure

from www.taxmann.com Latest Case Laws http://bit.ly/2JseWVU
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...