https://www.taxtmi.com/caselaws?id=417060 Expenditure on modifications to leased business premises was treated as revenue expenditure under section 37(1) because it did not create a new asset and was incurred wholly for business purposes, so the Revenue's challenge failed. The claim for education cess and secondary and higher education cess was accepted as deductible business expenditure because the statutory bar on tax deductions was held not to cover cess. The ESOP deduction issue, being a legal claim based on existing facts, was admitted and sent back to the Assessing Officer for fresh consideration in accordance with law. en-us Wed, 08 Dec 2021 00:00:00 +0530 Thu, 03 Mar 2022 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417060 Expenditure on modifications to leased business premises was treated as revenue expenditure under section 37(1) because it did not create a new asset and was incurred wholly for business purposes, so the Revenue's challenge failed. The claim for education cess and secondary and higher education cess was accepted as deductible business expenditure because the statutory bar on tax deductions was held not to cover cess. The ESOP deduction issue, being a legal claim based on existing facts, was admitted and sent back to the Assessing Officer for fresh consideration in accordance with law. Case-Laws Income Tax Wed, 08 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417060