Day-to-day business operating expenses are allowable as revenue expenditure, even with the percentage completion method.

Day-to-day business operating expenses are allowable as revenue expenditure, even with the percentage completion method. https://www.taxtmi.com/highlights?id=28695 Allowability of expenditure - Where the expenditure is relatable to day to day running of the business, the said expenditure is allowable as revenue expenditure in the hands of assessee irrespective of the fact that the assessee was following percentage completion method of recognizing its revenue - AT en-us Thu, 21 Apr 2016 10:21:55 +0530 Thu, 21 Apr 2016 10:21:55 +0530 TaxTMI RSS Generator Day-to-day business operating expenses are allowable as revenue expenditure, even with the percentage completion method. https://www.taxtmi.com/highlights?id=28695 Allowability of expenditure - Where the expenditure is relatable to day to day running of the business, the said expenditure is allowable as revenue expenditure in the hands of assessee irrespective of the fact that the assessee was following percentage completion method of recognizing its revenue - AT Highlights Income Tax Thu, 21 Apr 2016 10:21:55 +0530 https://www.taxtmi.com/highlights?id=28695