https://www.taxtmi.com/caselaws?id=250154 The Tribunal allowed the appeal, determining that the expenditure of Rs. 86,48,765/- for repairs and maintenance on leased premises was revenue in nature and deductible as a business expense. The Tribunal found that the expenses did not result in the creation of a new asset or enduring benefit, aligning with precedents where similar expenditures were treated as revenue expenses. Consequently, the society maintenance charges issue became irrelevant as the entire expenditure was considered revenue in nature. en-us Wed, 21 May 2014 00:00:00 +0530 Tue, 05 Aug 2014 01:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250154 The Tribunal allowed the appeal, determining that the expenditure of Rs. 86,48,765/- for repairs and maintenance on leased premises was revenue in nature and deductible as a business expense. The Tribunal found that the expenses did not result in the creation of a new asset or enduring benefit, aligning with precedents where similar expenditures were treated as revenue expenses. Consequently, the society maintenance charges issue became irrelevant as the entire expenditure was considered revenue in nature. Case-Laws Income Tax Wed, 21 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250154