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 ?
With the new fine, the total penalty, which is in the form of disallowing recovery of cost incurred, for missing the target in five financial years beginning April 1, 2010, now stands at a cumulative $ 2.76 billion.
It is in this context, Dubai is experiencing a two-speed recovery: the real estate sector and debt overhang remain a drag on growth, but the core economy has bounced back strongly, thanks to: Recovery in the global economy and trade; Strong regional growth on the back of high oil prices; Recovery of cost competitiveness; Successful damage limitation from the bursting of the real estate bubble and debt overhang; and the misfortune dividend - Dubai inadvertently benefitted from the unrest caused by the so-called "Arab Spring".
Committee directed DS Sukkar to fix responsibility in railway scrap theft case and ensure recovery of cost of stolen scrap is made and the accused persons are brought to justice.
The new system would operate in a different way to the executive's recovery of cost in sectors with major hazards such as nuclear and oil and gas, where the agency recovers costs for all the activity that takes place on site, including inspections.
"Here, profits were in line with expectations with a good sales performance countering some under recovery of cost increases.
He was sent a bill for "recovery of cost for attending obstructions" almost three months ago and received a final reminder a couple of weeks ago.
For tax purposes, the outright purchase of computer hardware will (almost always) require capitalization and recovery of cost through depreciation deductions.
Meanwhile, Spokesman of Islamabad Electric Supply Company (IESCO) has clarified the news item appeared in section of press that IESCO 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. The spokesman said that IESCO has installed new connections at farm houses as per IESCO-WAPDA rules like other connections without favoring to any VIP.
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. IESCO spokesman stated that the contents of news were investigated and scrutinized and no irregularity was found in provision of new connections to these farmhouses and neither there was any concession in demand notices.
Mr Durkin was sent a bill for "recovery of cost for attending obstructions" almost three months ago and received a final reminder last week.
It said: "Market recovery of cost increases, particularly in the middle ground, has been difficult in the short term."
Sources told Zee Media that the MSME ministry is working towards a mechanism under which these aggregators will get tax rebate, discount on registration charge, free legal consultation, recovery of cost on digital infra.
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