https://www.taxtmi.com/forum/issue?id=3252 The dealer purchased demo/test drive car, used only for customer demonstrations and later sale as a used car, raises whether its cost should be capitalised (as Plant & Machinery or Motor Car) or expensed, and the consequent income tax and wealth tax treatment. Critically, the demo car does not qualify as an input for authorised service station services and CENVAT/service tax credit, including excise duty credit towards service tax, is not available. en-us Fri, 05 Aug 2011 14:27:57 +0530 Thu, 23 Jan 2025 15:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3252 The dealer purchased demo/test drive car, used only for customer demonstrations and later sale as a used car, raises whether its cost should be capitalised (as Plant & Machinery or Motor Car) or expensed, and the consequent income tax and wealth tax treatment. Critically, the demo car does not qualify as an input for authorised service station services and CENVAT/service tax credit, including excise duty credit towards service tax, is not available. Discussion-Forum Income Tax Fri, 05 Aug 2011 14:27:57 +0530 https://www.taxtmi.com/forum/issue?id=3252