https://www.taxtmi.com/caselaws?id=376266 The High Court upheld the ITAT order treating hotel property expenditures as revenue expenditure rather than capital expenditure for the Assessment Year 2008-09. The Court found that the repairs and renovations did not result in the creation of a new asset or enduring advantage. Additionally, the Court supported the 60% depreciation rate on UPS purchases, dismissing the appeal as it raised no substantial legal issues. en-us Mon, 07 Jan 2019 00:00:00 +0530 Wed, 06 Mar 2019 06:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376266 The High Court upheld the ITAT order treating hotel property expenditures as revenue expenditure rather than capital expenditure for the Assessment Year 2008-09. The Court found that the repairs and renovations did not result in the creation of a new asset or enduring advantage. Additionally, the Court supported the 60% depreciation rate on UPS purchases, dismissing the appeal as it raised no substantial legal issues. Case-Laws Income Tax Mon, 07 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376266