TMI BlogWhereas the expenditure of a capital nature incurred on the renovation etc. of a building, which is not...Whereas the expenditure of a capital nature incurred on the renovation etc. of a building, which is not owned by the assessee but in respect of which the assessee holds mere occupancy rights, cannot be allowed deduction as a revenue expense, but such expenditure of a capital nature is liable to be considered as a building owned by the assessee for the purposes of section 32 - Depreciation to be allowed - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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