https://www.taxtmi.com/caselaws?id=179477 The Tribunal upheld the lower authorities' decisions and dismissed the assessee's appeal regarding the claim of the written down value of the building's cost as 'current repair' on lease premises. Despite the state government's directive to vacate, the Tribunal concluded that the cost of construction could not be considered 'current repair' as it did not align with the purpose of maintaining business assets. The Tribunal referenced a Madras High Court judgment to support its decision, emphasizing that the cost of construction must be claimed in the year of expenditure, which differed from the written down value claim made by the assessee. en-us Fri, 25 Oct 2013 00:00:00 +0530 Thu, 03 Nov 2016 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179477 The Tribunal upheld the lower authorities' decisions and dismissed the assessee's appeal regarding the claim of the written down value of the building's cost as 'current repair' on lease premises. Despite the state government's directive to vacate, the Tribunal concluded that the cost of construction could not be considered 'current repair' as it did not align with the purpose of maintaining business assets. The Tribunal referenced a Madras High Court judgment to support its decision, emphasizing that the cost of construction must be claimed in the year of expenditure, which differed from the written down value claim made by the assessee. Case-Laws Income Tax Fri, 25 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179477