Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Contributions to an electricity board for augmenting a...
Electricity network contributions remain revenue expenditure where ownership and maintenance stay with the electricity board, supporting business profitability.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Contributions to an electricity board for augmenting a transmission network may constitute revenue expenditure under Section 37(1) where the board retains ownership, maintenance responsibility and the right to use the service line for other consumers. No tangible asset, ownership right or enduring capital asset arises for the contributor in those circumstances. The expenditure is incurred to improve the profitability of the existing business apparatus and does not render an assessment order erroneous or prejudicial to revenue merely because it was allowed as revenue expenditure.
Contributions to an electricity board for augmenting a transmission network may constitute revenue expenditure under Section 37(1) where the board retains ownership, maintenance responsibility and the right to use the service line for other consumers. No tangible asset, ownership right or enduring capital asset arises for the contributor in those circumstances. The expenditure is incurred to improve the profitability of the existing business apparatus and does not render an assessment order erroneous or prejudicial to revenue merely because it was allowed as revenue expenditure.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
