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What is Direct Taxation Case Study: Tyres & Tyres about?

Tyres & Tyres, a tire manufacturing company, incurred Rs. 25 crore to construct railway sidings to efficiently transport raw materials and finished goods. The company capitalized and wrote off the cost over 10 years in its books but claimed it as a revenue expense on its taxes. The Assessing Officer disallowed the expense since the company capitalized it in its books. The Commissioner of Appeals upheld this decision. The case is about whether the railway siding construction cost can be claimed as a revenue

Author

Puloma Mukherjee

Language

EN