Shifting cost of old machineries - Capital or Revenue?
This query is : Resolved
23 June 2009
Our management have proposed to shift all the old machineries to other location.
The cost involves dismentling, tranport, insurance, assembly cost etc.
Whether these costs should be treated as revenue expenditure or should we capitalise the exp?
Please mention relevant section of the Income Tax Act,1961.
The cost involves dismentling, tranport, insurance, assembly cost etc.
Whether these costs should be treated as revenue expenditure or should we capitalise the exp?
Please mention relevant section of the Income Tax Act,1961.
23 June 2009
Revenue
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