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2013 (11) TMI 158 - AT - Income TaxDisallowance of repairs and maintenance expenses – The expenditure was incurred by the assessee to carry out fixing of the water tank, construction of partition and fixing of doors, fixing of granite and concrete work and construction of false ceiling from plaster of paris - Held that:- Following Nathmal Bankatlal Parikh and Co. v. CIT [1979 (8) TMI 46 - ANDHRA PRADESH High Court] – The expenditure incurred on replacement of old part by a new one in the asset used and kept by the assessee for its own business is a revenue expenditure - The assessee has incurred the expenditure for renovating the existing building which is used by the assessee for its business purposes - No new asset has been created by the assessee – Decided in favour of assessee.
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