https://www.taxtmi.com/caselaws?id=12421 The High Court of PUNJAB AND HARYANA upheld the Tribunal's decision to treat expenditure on renovation and extension as revenue expenditure, ruling that no new enduring asset was created, and the expenses were akin to current repairs, justifying the deduction. The Court emphasized that the renovation did not result in the acquisition of new assets. Additionally, the Court dismissed the appeal regarding high commission payments to the managing director and senior executives, as there was no specific finding by the Tribunal and the Revenue had not challenged the Commissioner's decision allowing the benefit to the assessee. en-us Thu, 09 May 2002 00:00:00 +0530 Wed, 24 Feb 2010 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12421 The High Court of PUNJAB AND HARYANA upheld the Tribunal's decision to treat expenditure on renovation and extension as revenue expenditure, ruling that no new enduring asset was created, and the expenses were akin to current repairs, justifying the deduction. The Court emphasized that the renovation did not result in the acquisition of new assets. Additionally, the Court dismissed the appeal regarding high commission payments to the managing director and senior executives, as there was no specific finding by the Tribunal and the Revenue had not challenged the Commissioner's decision allowing the benefit to the assessee. Case-Laws Income Tax Thu, 09 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12421