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2002 (4) TMI 29 - RAJASTHAN HIGH COURT
"Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the sum of Rs. 5,30,503 incurred on old wing of the hotel building owned by the assessee was not a capital expenditure?" The law which the apex court laid down in Assam Bengal Cement Co. Ltd. v. CIT still holds good, which is extracted as follows: "The aim and object of the expenditure would determine its character, namely, whether it was capital expenditure or revenue expenditure. If the expenditure was made for acquiring or bringing into existence all asset or advantage for the enduring benefit of the business, it was properly attributable to capital and was of the nature of capital expenditure. If, on the other hand, it was made for running the business or working it with a view to produce profits, it was revenue expenditure." - In our view no referable question of law has arisen from the order of the Tribunal. The finding of the Income-tax Appellate Tribunal is purely a finding of fact