https://www.taxtmi.com/caselaws?id=383744 The High Court determined that the expenditure for renovation and upgrading of a stadium by the Cricket Club of India was revenue in nature, not capital expenditure. The Court agreed with the Tribunal that the expenditure was for improving existing facilities, not creating new assets or enduring benefits. Consequently, the Court dismissed the Income Tax appeal, affirming the Tribunal's decision that the expenditure was revenue in nature. en-us Thu, 06 Jun 2019 00:00:00 +0530 Tue, 30 Jul 2019 07:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383744 The High Court determined that the expenditure for renovation and upgrading of a stadium by the Cricket Club of India was revenue in nature, not capital expenditure. The Court agreed with the Tribunal that the expenditure was for improving existing facilities, not creating new assets or enduring benefits. Consequently, the Court dismissed the Income Tax appeal, affirming the Tribunal's decision that the expenditure was revenue in nature. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383744