https://www.taxtmi.com/caselaws?id=334052 The Tribunal held that the expenditure incurred by the assessee for renovating the leased hotel building was revenue in nature, allowing the deduction for the expenses and dismissing the Revenue's appeals. The Tribunal emphasized that the expenditure was for efficient business operations and did not result in the acquisition of a capital asset, thus classifying it as revenue expenditure. The enduring benefit test was applied, concluding that the expenses facilitated more profitable business operations without increasing the capacity of the hotel. en-us Wed, 21 Sep 2016 00:00:00 +0530 Wed, 02 Nov 2016 18:15:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334052 The Tribunal held that the expenditure incurred by the assessee for renovating the leased hotel building was revenue in nature, allowing the deduction for the expenses and dismissing the Revenue's appeals. The Tribunal emphasized that the expenditure was for efficient business operations and did not result in the acquisition of a capital asset, thus classifying it as revenue expenditure. The enduring benefit test was applied, concluding that the expenses facilitated more profitable business operations without increasing the capacity of the hotel. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334052