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2023 (10) TMI 567 - HC - Income TaxNature of expenses - “renovation and repair” expenses partly capitalized in the books of account of the Assessee and payment made to consultancy and supervision of interior décor of the existing hotel of the Assessee under “renovation and refurbishment”- whether not the revenue expenditure admissible u/s 37? - treatment of expenses incurred on renovation and refurbishment of Hotel - HELD THAT:- As expenses initially capitalized and was claimed as revenue expenditure for the first time before the Tribunal and forms part of the additional grounds raised by the assessee in its appeal preferred before the Tribunal, it would stand remanded to the AO for examination of the character and nature of the expenses incurred, having regard to the principles adverted to [2023 (10) TMI 467 - DELHI HIGH COURT] the instant appeal is disposed of with the following directions, as the view taken in the said appeal will apply mutatis mutandis to the instant case as well Appellant/assessee will be entitled to claim the deduction, as, in our opinion, it is in the nature of revenue expenditure.
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