https://www.taxtmi.com/caselaws?id=20694 Expenditure incurred by a tenant to repair and renovate business premises was treated as revenue expenditure where the work restored the premises to a safe, usable condition after a demolition notice and preserved the existing income-earning asset. The repairs did not create a new asset or bring any capital advantage into existence, and the fact that the assessee occupied the premises as a tenant did not change the character of the outlay. Substantial repair work, including replacement of structural components, remained allowable when undertaken to remedy wear and tear and maintain continued business use. The principles under current repairs and allowable repairs supported deduction under section 30(a)(i), or alternatively section 37. en-us Thu, 23 Jul 1992 00:00:00 +0530 Mon, 16 Nov 2009 15:59:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20694 Expenditure incurred by a tenant to repair and renovate business premises was treated as revenue expenditure where the work restored the premises to a safe, usable condition after a demolition notice and preserved the existing income-earning asset. The repairs did not create a new asset or bring any capital advantage into existence, and the fact that the assessee occupied the premises as a tenant did not change the character of the outlay. Substantial repair work, including replacement of structural components, remained allowable when undertaken to remedy wear and tear and maintain continued business use. The principles under current repairs and allowable repairs supported deduction under section 30(a)(i), or alternatively section 37. Case-Laws Income Tax Thu, 23 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20694