18 July 2008
suppose I have a Bussines of buying & saling of land Or developong a land and for this purpose i hire a helecopter to do a survey of land.does it applicable to F.B.T.if not then why?i have to show this expenses under which head?can i capitalize this expens
18 July 2008
Yes IT authorities will hold it as liable under clause (I) of subsection (2)of section 115WB. But probably you may appeal to authorities that the aircraft is not used for travel but used as plant and machinery in connection with your business.
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