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2008 (9) TMI 25 - HC - Income Tax
Expenditure on renovation of rented premises – decisions cited by revenue relate to “current repairs” – but there is a clear distinction between the expression “repairs” & “current repairs” - “current repairs” is restricted than “repairs” – no any new capital asset was brought out – expenses were made to make the premises more conducive to its business activity – hence cost of repairs incurred are allowable u/s 30(a)(i) - no question of considering the question of applicability of Section 32