https://www.taxtmi.com/article/detailed?id=6381 Dry docking costs for ships are recurring repair and maintenance expenditures incurred on assets already in use and therefore qualify as revenue expenditure deductible as business expenses; consistent charging to the profit and loss account is recommended to reduce disputes, though legitimate matching of cost to the period of benefit may be applied, and further appeals by revenue against settled high court treatment are discouraged as unnecessary litigation. en-us Wed, 12 Aug 2015 06:48:17 +0530 Wed, 12 Aug 2015 06:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6381 Dry docking costs for ships are recurring repair and maintenance expenditures incurred on assets already in use and therefore qualify as revenue expenditure deductible as business expenses; consistent charging to the profit and loss account is recommended to reduce disputes, though legitimate matching of cost to the period of benefit may be applied, and further appeals by revenue against settled high court treatment are discouraged as unnecessary litigation. Articles Income Tax Wed, 12 Aug 2015 06:48:17 +0530 https://www.taxtmi.com/article/detailed?id=6381