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Exp. incurred to replace various parts of machinery treated as revenue exp. as no new asset brought into existence
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Corporate Tax
Exp. incurred to replace various parts of machinery treated as revenue exp. as no new asset brought into existence
Posted on
on
June 16, 2016
Tenet Tax Daily June 16 2016
By
tenettax-team
Corporate Tax
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An income already assessed to tax in hands of agent couldn’t be taxed in hands of its principal
ITAT removes effect of cost reimbursed from AE as comparable wasn’t getting any reimbursement for its services
