https://www.taxtmi.com/caselaws?id=262597 The court ruled in favor of the Assessee, determining that the expenditure of Rs. 28,40,587 on laying marble flooring should be classified as revenue expenditure rather than capital expenditure for Assessment Year 1996-97. The court agreed with the ITAT and CIT (A) that the expenses were incurred to enhance business profit, thus qualifying as revenue expenditure. The decision affirmed that the cost of marble for flooring replacement should be considered revenue expenditure, leading to the disposal of the appeal in favor of the Assessee. en-us Fri, 31 Jul 2015 00:00:00 +0530 Thu, 13 Aug 2015 23:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262597 The court ruled in favor of the Assessee, determining that the expenditure of Rs. 28,40,587 on laying marble flooring should be classified as revenue expenditure rather than capital expenditure for Assessment Year 1996-97. The court agreed with the ITAT and CIT (A) that the expenses were incurred to enhance business profit, thus qualifying as revenue expenditure. The decision affirmed that the cost of marble for flooring replacement should be considered revenue expenditure, leading to the disposal of the appeal in favor of the Assessee. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262597