Recovery of Cost

Recovery of Cost

The amount that was paid for income received--usually a factor only in income from sales of items purchased for resale, income from sales of property, and income from pensions or annuities. The portion of income that represents recovery of cost is not taxable.
References in periodicals archive ?
While responding to the published news item on 23rd May 2009 in certain section of the media in which it was claimed that IESCO had installed new connections to some farm-houses of Chak-Shahzad under tariff D-2 (1) besides installation of material, particularly the transformer, without recovery of cost.
It said: "Market recovery of cost increases, particularly in the middle ground, has been difficult in the short term.
For tax purposes, the outright purchase of computer hardware will (almost always) require capitalization and recovery of cost through depreciation deductions.
The settlement permits the Company to file during this period for recovery of cost increases beyond its control, such as fuel, state or federal taxes, or changes in state or federal statutory or regulatory requirements.
Recovery of cost increases through price improvements remained difficult throughout the first half of 1994.
Surface cleaning of the pedestrian zone with cleaning the slotted channel and cleaning of parking spaces in the city center, including recovery of costs incurred street sweepings for a contract period of 1.
As the prevailing party in the initial case, Google was able to seek recovery of costs.
Khare-- former Chief Justices of India-- to resolve the dispute between the Centre and Mukesh Ambani's Reliance Industries Ltd ( RIL) over recovery of costs on development of the natural gas field in the Krishna- Godavari ( KG) Basin.
Ford is seeking the recovery of costs incurred by Ford in connection with certain parts that did not meet Ford's quality standards or those of our customers.
Approved recovery of costs related to IPL's Whispering Willow - East Wind Farm.
He claims that West Midlands Police were one of the forces being used to see how far they can get to achieving that aim and added: "By full recovery of costs, we mean that the police want to charge clubs for football-related incidents outside stadiums, such as public highways, in town centres and on trains and so on.
If you want to avoid this, then you need to make sure that your contract provides an adjudication clause that allows the adjudicator to make an award that includes the recovery of costs.