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Started by sai prasad, March 16, 2011, 09:41:21 AM
Quote from: pawansingla on March 18, 2011, 08:10:05 PMI think it should be added to the cost of the vehicle and assessee is free to claim depreciation accordingly.
Quote from: sai prasad on March 16, 2011, 09:41:21 AMPlease give your opinion with supporting case law on the issue as to whether car lifetime tax,one time payment, is revenue expenditure. Sec.43B proivdes that any tax,duty and fee are deductible in the year of payment. Whether the above said tax is enduring nature and needs to be capitalised in the face of Sec.43BAn early response is welcome