Factory Renovation Costs Classified as Current Repairs for Tax Purposes Despite High Expenses Incurred.

Factory Renovation Costs Classified as Current Repairs for Tax Purposes Despite High Expenses Incurred. https://www.taxtmi.com/highlights?id=34755 Determination of nature of expenditure incurred for renovation of factory building - A repair ordinarily involves renewal and restoration of the existing wear and tear. Such expenditure, in our view, is in the nature of current repair in spite of major expenses alleged to have been incurred - AT en-us Thu, 11 May 2017 07:25:53 +0530 Thu, 11 May 2017 07:25:53 +0530 TaxTMI RSS Generator Factory Renovation Costs Classified as Current Repairs for Tax Purposes Despite High Expenses Incurred. https://www.taxtmi.com/highlights?id=34755 Determination of nature of expenditure incurred for renovation of factory building - A repair ordinarily involves renewal and restoration of the existing wear and tear. Such expenditure, in our view, is in the nature of current repair in spite of major expenses alleged to have been incurred - AT Highlights Income Tax Thu, 11 May 2017 07:25:53 +0530 https://www.taxtmi.com/highlights?id=34755