https://www.taxtmi.com/caselaws?id=173988 Expenditure on renovation was not deductible as "current repairs" because current repairs mean ordinary, periodic maintenance of an existing asset to preserve it in working condition. Costs directed to renovation, improvement or replacement that create a new or different advantage, or amount to capital improvement, fall outside that expression. On the facts, the cinema-hall expenses were separately booked as renovation and were found on evidence to be substantially capital in nature, incurred to make the halls more attractive and comfortable and to enhance their value and earning capacity. The claim accordingly failed. en-us Wed, 05 Apr 1961 00:00:00 +0530 Fri, 25 Sep 2015 19:02:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173988 Expenditure on renovation was not deductible as "current repairs" because current repairs mean ordinary, periodic maintenance of an existing asset to preserve it in working condition. Costs directed to renovation, improvement or replacement that create a new or different advantage, or amount to capital improvement, fall outside that expression. On the facts, the cinema-hall expenses were separately booked as renovation and were found on evidence to be substantially capital in nature, incurred to make the halls more attractive and comfortable and to enhance their value and earning capacity. The claim accordingly failed. Case-Laws Income Tax Wed, 05 Apr 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173988