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2002 (6) TMI 19 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the expenditure incurred by the assessee in converting the godown taken on lease into office premises could be termed as revenue expenditure or capital expenditure?" - since the assets created by spending the said amounts did not belong to the assessee but the assessee got the business advantage of using modern business premises at a low rent, thus saving considerable revenue expenditure for a considerably long period, the Tribunal was perfectly justified in coming to the conclusion that the expenditure should be looked upon as revenue expenditure. No fault can be found with the findings recorded by the Tribunal.
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