The Never-Ending Battle of Capital v/s Revenue Expenditure!

There is no precise definition of capital or revenue expenditure in the Income-tax Act. Thus, reliance is placed on judicial decisions to set some relevant principles for classification. In this article, the author has attempted to discuss some general principles to determine the nature of expenditure.There is no precise definition of capital or revenue expenditure in the Income-tax Act. Thus, reliance is placed on judicial decisions to set some relevant principles for classification. In this article, the author has attempted to discuss some general principles to determine the nature of expenditure.taxmann.com Latest ArticlesRead More

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