TaxTMI 
TaxTMI 
capital exp.
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....apital exp.<br> Query (Issue) Started By: - himanshu gupta Dated:- 30-1-2013 Last Reply Date:- 1-2-2013 Income Tax<br>Got 1 Reply<br>Income Tax<br>interst paid on purchase of land after startd of prod....
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....uction is capital exp. or rev. exp. if its a rev. exp. then suggest proper case law or sec. Reply By CA GOPALJI AGRAWAL: The Reply: The basic principles of accounting decide whether an expenditure ....
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....is revenue or capital. AS 16 on borrowing costs reply yr query that once the asset is ready to use, the subsequent costs are revenue but in income tax law, it is the date the asset is put to use hence....
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.... once the production is started, the expense is revenue on account of interest.<br> Discussion Forum - Knowledge Sharing ....