https://www.taxtmi.com/caselaws?id=289421 The Tribunal determined that building renovation expenses incurred by a 3-star hotel franchisee were capital in nature, not deductible as business expenditure. The renovation involved substantial replacement and improvement, aligning the hotel with international standards, resulting in enduring benefits. The Tribunal overturned the CIT(A)'s decision, allowing depreciation and dismissing the assessee's appeal. The Revenue's appeal was allowed, and the expenditure was treated as capital. en-us Mon, 16 Oct 2017 00:00:00 +0530 Thu, 30 Jul 2020 09:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289421 The Tribunal determined that building renovation expenses incurred by a 3-star hotel franchisee were capital in nature, not deductible as business expenditure. The renovation involved substantial replacement and improvement, aligning the hotel with international standards, resulting in enduring benefits. The Tribunal overturned the CIT(A)'s decision, allowing depreciation and dismissing the assessee's appeal. The Revenue's appeal was allowed, and the expenditure was treated as capital. Case-Laws Income Tax Mon, 16 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289421