https://www.taxtmi.com/caselaws?id=392495 The appeal was allowed as the delay in filing was condoned, and the expenditure of Rs. 60,25,240/- for repairs and maintenance to maintain the hotel's 3-star status was classified as revenue expenditure. The Tribunal held that the expenses did not create a new asset but were incurred to preserve the existing status, making them eligible for deduction under section 37(1) of the Income Tax Act. en-us Tue, 18 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 12:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392495 The appeal was allowed as the delay in filing was condoned, and the expenditure of Rs. 60,25,240/- for repairs and maintenance to maintain the hotel's 3-star status was classified as revenue expenditure. The Tribunal held that the expenses did not create a new asset but were incurred to preserve the existing status, making them eligible for deduction under section 37(1) of the Income Tax Act. Case-Laws Income Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392495