Capital Expenditure - Law Dictionary Search Results
Home Dictionary Name: capital expenditure Page 1 of about 13 results ( seconds)Capital expenditure and revenue expenditure
Capital expenditure and revenue expenditure, in cases where the expenditure is made for the initial outlay or for extension of a business or a substantial replacement of the equipment, there is no doubt that it is 'capital expenditure'. If on the other hand it is made not for the purpose of bringing into existence any such asset or advantage but for running the business or working it with a view to produce the profits it is a 'revenue expenditure', Assam Bengal Cement Co. v. C.I.T, AIR 1955 SC 89 (96). [Income-tax Act, 1922, s. 10(2)(xv)]...
capital expenditure
capital expenditure : an amount paid out that creates a long-term benefit (as one lasting beyond the taxable year) ;esp : costs that are incurred in the acquisition or improvement of property (as capital assets) or that are otherwise chargeable to a capital account NOTE: Capital expenditures are not deductible for income tax purposes. They are generally added to the property's basis. ...
capitalize
capitalize -ized -iz·ing 1 a : to convert into capital [ the company's earnings] b : to treat as a capital expenditure rather than an ordinary and necessary expense [the cost of the merger must be capitalized] 2 a : to compute the present value of (an income extended over a period of time) compare amortize b : to convert (a periodic payment) into an equivalent capital sum [capitalized annuities] 3 : to supply capital for [had capitalized the business with her own savings] ...
expenditure
expenditure 1 : the act or process of paying out 2 : something paid out see also capital expenditure ...
expense
expense : financial burden or outlay ;specif : an item of business outlay chargeable against revenue for a specific period busi·ness expense : an expense made in furtherance of one's business esp. as part of the cost of operating a business in the taxable year in which the expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense : an expense made in a business that will provide a long-term benefit : capital expenditure NOTE: Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization. mov·ing expense : an expense incurred in changing one's residence that is tax deductible if incurred for business reasons (as when one's job requires relocation) or·di·nary and nec·es·sary expense : an expense that is normal or customary and helpful and appropriate for the operation of a ...
Trade Facilities Acts, 1921 to 1926 (English)
Trade Facilities Acts, 1921 to 1926 (English), By these Acts the Treasury was authorized to guarantee (after consultation with advisory committees before 31st March, 1927), up to a maximum of 75 million pounds, the capital or interest of any capital expenditure loan, raised by any Government, public authority or company, for purposes calculated to promote employment in the United Kingdom....
Wholly and exclusively for purposes of such business
Wholly and exclusively for purposes of such business, the expenditure of a capital nature is certainly not an expenditure which is deductible for computing profits though it may be an expenditure wholly and exclusively laid out for the purposes of the business etc. If this expenditure is not a capital nature but of a revenue nature it is certainly deductible under this clause. All other expenditure which is not included in (i) or (xiv) or which is not at the very inception deductible as an overriding charges on the whole of the profit-making apparatus will be deductible if it is laid out or expenditure wholly and exclusively for pur-poses of such business, C.I.T. Kerala v. Travancere Sugar and Chemicals Ltd., AIR 1973 SC 982 (986). [Income Tax Act (11 of 1922), s. 10(2) (xv)]...
Floating capital
Floating capital. Capital available for the purpose of meeting current expenditure....
freeze
freeze froze fro·zen freez·ing 1 : to cause to become fixed, immovable, unavailable, or unalterable [ interest rates] 2 : to immobilize (as by government regulation or the action of a financial institution) the expenditure, withdrawal, or exchange of [ foreign assets] 3 : to restructure (the capital of a close corporation) so that the value is reflected mostly in preferred stock rather than common stock NOTE: Once capital is frozen, the common shares can be transferred to the heirs of the owner without taxation while the owner continues to enjoy the income from preferred stock dividends during his or her lifetime. freeze n ...
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
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