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1973 (7) TMI 23 - HC - Income TaxAmounts spent to replace worn out corrugated sheets on the roof of a building from which the assessee derived lease rentals - " Whether there was any material to justify the finding of the Tribunal that any portion of the expenditure incurred by the assessee was of a capital nature ? " As stated earlier, whether there is a material alteration or improvement would depend upon the facts of each case and in the absence of material on record that asbestos cement sheet roof is costlier or otherwise more advantageous than the roof of corrugated iron sheets, it cannot be said that the expenses incurred can be regarded as those of a capital nature - Question answered in the negative
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