https://www.taxtmi.com/caselaws?id=5557 Expenditure qualifies as "current repairs" only where it preserves or maintains an existing asset and is incurred to meet ordinary need as it arises, rather than creating a new asset or conferring a new or different advantage. Applied to extensive theatre renovation involving new machinery, furniture, sanitary fittings, electrical wiring, and major structural repairs, the work was treated as substantial renovation and not routine maintenance. The expenditure was therefore held to be capital in nature and outside the scope of deductible current repairs under section 10(2)(v) of the Indian Income-tax Act, 1922. en-us Fri, 10 Jan 1997 00:00:00 +0530 Tue, 14 Oct 2025 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5557 Expenditure qualifies as "current repairs" only where it preserves or maintains an existing asset and is incurred to meet ordinary need as it arises, rather than creating a new asset or conferring a new or different advantage. Applied to extensive theatre renovation involving new machinery, furniture, sanitary fittings, electrical wiring, and major structural repairs, the work was treated as substantial renovation and not routine maintenance. The expenditure was therefore held to be capital in nature and outside the scope of deductible current repairs under section 10(2)(v) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 10 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5557