Expenditure Classification: Repair Costs May Be Revenue or Capital Based on Circumstances, Not Just Scale or Frequency.

Expenditure Classification: Repair Costs May Be Revenue or Capital Based on Circumstances, Not Just Scale or Frequency. https://www.taxtmi.com/highlights?id=65697 Nature of expenditure - expenditure on repair works - The expenditure being huge is not the consideration to decide whether it is revenue or capital expenditure. The expenditure can be one time affair or recurring affair. Determination of capital or revenue expenditure is totally based on the circumstances of each case. - AT en-us Mon, 19 Sep 2022 09:34:55 +0530 Mon, 19 Sep 2022 09:34:55 +0530 TaxTMI RSS Generator Expenditure Classification: Repair Costs May Be Revenue or Capital Based on Circumstances, Not Just Scale or Frequency. https://www.taxtmi.com/highlights?id=65697 Nature of expenditure - expenditure on repair works - The expenditure being huge is not the consideration to decide whether it is revenue or capital expenditure. The expenditure can be one time affair or recurring affair. Determination of capital or revenue expenditure is totally based on the circumstances of each case. - AT Highlights Income Tax Mon, 19 Sep 2022 09:34:55 +0530 https://www.taxtmi.com/highlights?id=65697