Contractually Mandated Provision for BOT Major Repairs Based on Scientific Estimates Allowable Under Section 37(1)
Contractually Mandated Provision for BOT Major Repairs Based on Scientific Estimates Allowable Under Section 37(1) Issue Whether a provision created for major repair and overhauling expenses, contractually mandated under a Build-Operate-Transfer (BOT) concession agreement and computed on a scientific basis, is allowable as a deductible business expenditure under Section 37(1) for the current assessment year… Read More »