https://www.taxtmi.com/caselaws?id=13457 The HC upheld the Tribunal's decision, classifying the expenditure on flooring and partitions for a leased property as revenue expenditure. The Court dismissed the Revenue's appeal, emphasizing that the expenditure was for business operations and not capital in nature. The argument regarding shared ownership between co-owners and directors was also rejected, affirming no legal infirmity in the Tribunal's findings. The tax case was dismissed in favor of the assessee, with no costs awarded. en-us Tue, 10 Oct 2006 00:00:00 +0530 Thu, 22 Feb 2024 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13457 The HC upheld the Tribunal's decision, classifying the expenditure on flooring and partitions for a leased property as revenue expenditure. The Court dismissed the Revenue's appeal, emphasizing that the expenditure was for business operations and not capital in nature. The argument regarding shared ownership between co-owners and directors was also rejected, affirming no legal infirmity in the Tribunal's findings. The tax case was dismissed in favor of the assessee, with no costs awarded. Case-Laws Income Tax Tue, 10 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13457