https://www.taxtmi.com/caselaws?id=255277 The High Court upheld the Tribunal's decision that expenditure on repairs and maintenance was revenue in nature and deductible under Section 37(1) of the Income Tax Act. The Court distinguished between current repairs and capital expenditure, emphasizing that the expenses did not create a new asset but aimed to maintain the existing asset. Therefore, the Court ruled in favor of the assessee, dismissing the Revenue's appeal. en-us Mon, 17 Nov 2014 00:00:00 +0530 Tue, 13 Jan 2015 09:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255277 The High Court upheld the Tribunal's decision that expenditure on repairs and maintenance was revenue in nature and deductible under Section 37(1) of the Income Tax Act. The Court distinguished between current repairs and capital expenditure, emphasizing that the expenses did not create a new asset but aimed to maintain the existing asset. Therefore, the Court ruled in favor of the assessee, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 17 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255277