https://www.taxtmi.com/caselaws?id=283727 Expenditure on repair of an existing soak-pit system and roof waterproofing was treated as revenue expenditure because the work was directed to preserving and maintaining existing assets. The record showed excavation, pipeline laying, construction of a break-wall and RCC slabs for the soak-pit, and bituminous waterproofing of the roof, but the governing test remained whether the outlay created a new asset or enduring advantage. On the facts found, the work was characterised as current repairs rather than capital replacement, and the assessee's claim was allowed. en-us Fri, 20 Apr 2012 00:00:00 +0530 Wed, 09 Oct 2019 15:07:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283727 Expenditure on repair of an existing soak-pit system and roof waterproofing was treated as revenue expenditure because the work was directed to preserving and maintaining existing assets. The record showed excavation, pipeline laying, construction of a break-wall and RCC slabs for the soak-pit, and bituminous waterproofing of the roof, but the governing test remained whether the outlay created a new asset or enduring advantage. On the facts found, the work was characterised as current repairs rather than capital replacement, and the assessee's claim was allowed. Case-Laws Income Tax Fri, 20 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283727