https://www.taxtmi.com/caselaws?id=269727 The Tribunal held that the expenditure for constructing superstructures on leased land and for repairs, refurbishing, and improvements on leased buildings should be treated as capital expenditure. This decision was based on the enduring benefit to the assessee and the legal fiction created by Explanation 1 to section 32(1) of the Income-tax Act. The Tribunal's order was upheld, emphasizing the legislative intent behind Explanation 1 and rejecting the assessee's claim for revenue expenditure treatment. en-us Tue, 18 Aug 2015 00:00:00 +0530 Sat, 19 Dec 2015 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269727 The Tribunal held that the expenditure for constructing superstructures on leased land and for repairs, refurbishing, and improvements on leased buildings should be treated as capital expenditure. This decision was based on the enduring benefit to the assessee and the legal fiction created by Explanation 1 to section 32(1) of the Income-tax Act. The Tribunal's order was upheld, emphasizing the legislative intent behind Explanation 1 and rejecting the assessee's claim for revenue expenditure treatment. Case-Laws Income Tax Tue, 18 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269727