https://www.taxtmi.com/caselaws?id=368888 The ITAT Mumbai ruled in favor of the assessee, overturning the disallowance of Repair and Maintenance expenses as capital expenditure. The tribunal emphasized that the repairs did not create a new asset but rather maintained existing premises for business purposes, qualifying as revenue expenditure. It was determined that the expenses were wholly and exclusively laid out for business, making them eligible for deduction. The decision was made on 10th October 2018, allowing the appeal and rejecting the Assessing Officer's treatment of the expenses as capital expenditure. en-us Wed, 10 Oct 2018 00:00:00 +0530 Tue, 16 Oct 2018 09:49:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368888 The ITAT Mumbai ruled in favor of the assessee, overturning the disallowance of Repair and Maintenance expenses as capital expenditure. The tribunal emphasized that the repairs did not create a new asset but rather maintained existing premises for business purposes, qualifying as revenue expenditure. It was determined that the expenses were wholly and exclusively laid out for business, making them eligible for deduction. The decision was made on 10th October 2018, allowing the appeal and rejecting the Assessing Officer's treatment of the expenses as capital expenditure. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368888