https://www.taxtmi.com/caselaws?id=338370 The Tribunal allowed the appeal of the assessee, determining that the expenditure incurred on repair and renovations was revenue in nature and deductible. The Tribunal found that the expenses were for preserving and maintaining the existing asset, not for creating a new asset or enduring advantage. Consequently, the lower authorities' decisions were overturned, and the appeal was granted in favor of the assessee. en-us Thu, 24 Nov 2016 00:00:00 +0530 Tue, 31 Jan 2017 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338370 The Tribunal allowed the appeal of the assessee, determining that the expenditure incurred on repair and renovations was revenue in nature and deductible. The Tribunal found that the expenses were for preserving and maintaining the existing asset, not for creating a new asset or enduring advantage. Consequently, the lower authorities' decisions were overturned, and the appeal was granted in favor of the assessee. Case-Laws Income Tax Thu, 24 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338370