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2014 (7) TMI 755 - AT - Income TaxExpenses on society development charges – Expenses to replace old lift of building – personal expenditure - Held that:- The assessee does not acquire any advantage in the capital account or any new asset for its professional purpose and the lift in question is not an apparatus of generating the professional income - it cannot be considered as an expenditure of capital nature as it does not create any new asset belonging to the assessee - CIT(A) have rightly considered this fact that the assessee is having residence as well as office in the same premises and the lift is installed for the purpose and interest of his profession as well as non-professional and family members personal convenience, therefore, the whole expenditure is not found to be incurred exclusive for the purpose of profession of the assessee. The view of the CIT(A) is upheld to the extent that 50% of the expenditure to be considered for professional purpose - since the expenditure in question does not create a new asset or bring any advantage in the capital account of the assessee, therefore, it cannot be treated as capital in nature - the expenditure has been incurred in the compelling circumstances to remove the inconvenience and hardship faced by the assessee in its professional work as well as non-professional life and the advantage of the said expenditure is to facilitate the assessee's professional activity to be carried out more efficiently and profitably - 50% of the total expenditure which is considered to be for the professional purpose is allowed as revenue expenditure – Decided partly in favour of Assessee.
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