https://www.taxtmi.com/caselaws?id=238981 The Tribunal allowed the appeal of the assessee, overturning the decisions of the authorities below. It held that the expenditure of Rs. 10,29,880 should be treated as revenue expenditure and allowed in the assessment year under consideration. The Tribunal directed the Assessing Officer to reverse the depreciation allowed and treat the expenditure as business expenditure for the relevant assessment year. This decision was based on the finding that the expenditure was for renovating existing premises used for business purposes, aligning with precedents where such expenses were treated as revenue expenditure. en-us Wed, 02 Jan 2013 00:00:00 +0530 Fri, 01 Nov 2013 18:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238981 The Tribunal allowed the appeal of the assessee, overturning the decisions of the authorities below. It held that the expenditure of Rs. 10,29,880 should be treated as revenue expenditure and allowed in the assessment year under consideration. The Tribunal directed the Assessing Officer to reverse the depreciation allowed and treat the expenditure as business expenditure for the relevant assessment year. This decision was based on the finding that the expenditure was for renovating existing premises used for business purposes, aligning with precedents where such expenses were treated as revenue expenditure. Case-Laws Income Tax Wed, 02 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238981