https://www.taxtmi.com/caselaws?id=71830 The Tribunal determined that the expenditure of Rs. 5,07,146 incurred by the assessee for restoring the premises after a fire incident should be treated as revenue expenditure. The repairs were necessary for business continuity, did not result in any new asset or enduring benefit, and did not alter the fixed capital. Therefore, the Tribunal directed the Assessing Officer to allow the expenditure as revenue expenditure. The appeal was allowed in favor of the assessee. en-us Thu, 18 Mar 2004 00:00:00 +0530 Wed, 27 Apr 2011 13:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71830 The Tribunal determined that the expenditure of Rs. 5,07,146 incurred by the assessee for restoring the premises after a fire incident should be treated as revenue expenditure. The repairs were necessary for business continuity, did not result in any new asset or enduring benefit, and did not alter the fixed capital. Therefore, the Tribunal directed the Assessing Officer to allow the expenditure as revenue expenditure. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 18 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71830