1975 (9) TMI 41 - HC - Income Tax

Summary

The High Court of Orissa ruled that the claim of the assessee for expenditure of Rs. 16,499 was of capital nature and not admissible as a deduction. The expenditure was for improving the cinema hall, which was considered a capital investment. The court found that even if the assessee was a lessee, the expenditure would still be considered a capital investment. The court's decision was agreed upon by both judges.