https://www.taxtmi.com/highlights?id=59545 Nature of expenditure - Expenditure incurred by the assessee towards repairs and renovation of the premises to house the branch - if the expenditure incurred by the assessee is on the revenue front, whether the premises is taken on lease or not is immaterial and the same is always an allowable deduction - CIT(A) misinterpreted Explanation 1 to section 32(1) of the I.T.Act - the assessee is entitled to deduction as revenue expenditure. - AT en-us Mon, 06 Sep 2021 11:26:42 +0530 Mon, 06 Sep 2021 11:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59545 Nature of expenditure - Expenditure incurred by the assessee towards repairs and renovation of the premises to house the branch - if the expenditure incurred by the assessee is on the revenue front, whether the premises is taken on lease or not is immaterial and the same is always an allowable deduction - CIT(A) misinterpreted Explanation 1 to section 32(1) of the I.T.Act - the assessee is entitled to deduction as revenue expenditure. - AT Highlights Income Tax Mon, 06 Sep 2021 11:26:42 +0530 https://www.taxtmi.com/highlights?id=59545