Home Highlights February 2013 Year 2013 This

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1. Extensive renovation expenditure on leased premises - capital or revenue - in view of Explanation 1 to Section 32, it has become immaterial as to whether the assessee is...

2. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

3. Revenue or Capital Expenditure - Temporary structure by means of false ceiling and office renovation had not resulted in any capital expenditure - HC

4. Capital expenditure vs Revenue expenditure - expenditure on payment of lease rent and maintenance of the pipeline as per Build, Own, Operate, Transfer (BOOT) contract -...

5. Revenue vs. capital expenditure - hire-purchase v/s agreement of lease - right to purchase to be exercised after expiry of certain period - held as lease transaction /...

6. Expenditure on current repair, maintenance and replacement on the leased Thermal power station - revenue expenditure or capital expenditure - HC

7. Financial lease - principal payments made towards financial lease - revenue or capital expenditure - assessee is not entitled to deduction of payment of principal amount...

8. Renovation expenses – lease building – The building that was taken on lease remained intact. What has been done was only to create a better working environment. -...

9. 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...

10. Amount expended for putting up multi-storied structures on leasehold land and refurbishing leasehold buildings - capital or revenue expenditure - entitlement to...