https://www.taxtmi.com/caselaws?id=122770 The court dismissed the appeal, affirming the lower authorities' decision to treat the expenditure on renovation and refurbishment of the leased premises as capital in nature. The Assessing Officer and CIT (Appeals) considered the extensive renovations, structural changes, and improvements as capital expenditure, allowing depreciation under section 32. The Tribunal concurred, emphasizing that the expenditure occurred before business operations began and did not qualify as current repairs under section 30(a)(ii). The expenditure was deemed capital, not deductible under section 37, resulting in the dismissal of the appeal. en-us Fri, 23 Oct 2009 00:00:00 +0530 Fri, 17 Aug 2012 11:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122770 The court dismissed the appeal, affirming the lower authorities' decision to treat the expenditure on renovation and refurbishment of the leased premises as capital in nature. The Assessing Officer and CIT (Appeals) considered the extensive renovations, structural changes, and improvements as capital expenditure, allowing depreciation under section 32. The Tribunal concurred, emphasizing that the expenditure occurred before business operations began and did not qualify as current repairs under section 30(a)(ii). The expenditure was deemed capital, not deductible under section 37, resulting in the dismissal of the appeal. Case-Laws Income Tax Fri, 23 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122770