https://www.taxtmi.com/caselaws?id=10111 The Tribunal's decision to allow the expenditure incurred for the construction of a textile institute as revenue expenditure was justified as it did not result in the acquisition of a capital asset by the assessee. The building constructed was owned by the State, and the expenditure was for the purpose of facilitating the assessee's business by training its workers, qualifying as revenue expenditure. The High Court affirmed this decision, dismissing the appeal and upholding the expenses as revenue expenditure under section 37(1) of the Income-tax Act, 1961. en-us Mon, 17 Nov 2003 00:00:00 +0530 Tue, 07 Jul 2009 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10111 The Tribunal's decision to allow the expenditure incurred for the construction of a textile institute as revenue expenditure was justified as it did not result in the acquisition of a capital asset by the assessee. The building constructed was owned by the State, and the expenditure was for the purpose of facilitating the assessee's business by training its workers, qualifying as revenue expenditure. The High Court affirmed this decision, dismissing the appeal and upholding the expenses as revenue expenditure under section 37(1) of the Income-tax Act, 1961. Case-Laws Income Tax Mon, 17 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10111