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2010 (6) TMI 503 - AT - Income TaxDepreciation - Capital or revenue expenditure - Expenditure incurred on leased premises - the expenditure incurred by the assessee is only for carrying on the business of exhibiting feature films - it is not in dispute that the expenditure was incurred for earth filling, repair of chairs, replacement of damaged chairs, repair of underground slump, drainage and cable work, wall paper fixing, dust opening repair, carpentry and plumbing, repair of false ceiling, etc - The Apex Court after referring to earlier decision in the case of Assam Bengal Cement Co. Ltd. vs. CIT (1954 -TMI - 49686 - SUPREME Court) found that the expenditure incurred by the assessee was in the process of profit earning - Accordingly expenditure are treated as a revenue expenditure - Decided in the favour of the assessee
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