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2014 (6) TMI 739 - AT - Income TaxDisallowance of building renovation expenses Capital or revenue expenses - Amount not treated as current repairs u/s 30 and 31 of the Act Held that:- Assessee had during the year taken new permissions rent and had shifted the school in the bigger rented premises - From the details of expenses, it is seen that the expenses are with respect to alteration to furniture like glass fittings, repairs to locks, miscellaneous repair works, repairs to furniture, water proofing and other miscellaneous repairs etc. - From the nature of expenses it cannot be said that the expenses have resulted in getting enduring benefit to the Assessee and appear to be of revenue in nature - the Revenue has also not brought any material on record to controvert the submissions of the Assessee thus, the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act Decided in favour of Assessee.
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