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2005 (11) TMI 37 - HC - Income TaxExpenditure- Capital or Revenue - "Whether Tribunal was right in law in allowing the expenditure of a sum on constructing the ground floor over existing basement floor as revenue expenditure, under section 37(1), even though a new permanent capital asset has been brought into existence?" - assessee had put up the ground floor over the existing basement floor only to have the business premises according to the specifications put forth by TVS Suzuki Limited and further, there is a clear-cut stipulation in the lease deed that reimbursement of the expenditure is not possible from the owner of the premises. Hence, in view of the business exigencies, the assessee had put up the construction, in and by which, the assessee would not get any capital asset - question is answered in the affirmative, against the Revenue and in favour of the assessee
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