https://www.taxtmi.com/caselaws?id=430310 The High Court of Allahabad dismissed the Revenue's appeals, affirming that expenses incurred on leasehold improvements were rightly classified as revenue expenditure. The court held that the expenses did not create new assets and were necessary for the business, making them allowable deductions under the Income Tax Act. The court upheld the decisions of the CIT(A) and ITAT, concluding that no substantial question of law was involved in the Tribunal's order. Both appeals under Section 260A of the Income Tax Act were dismissed. en-us Fri, 22 Jul 2022 00:00:00 +0530 Tue, 15 Nov 2022 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430310 The High Court of Allahabad dismissed the Revenue's appeals, affirming that expenses incurred on leasehold improvements were rightly classified as revenue expenditure. The court held that the expenses did not create new assets and were necessary for the business, making them allowable deductions under the Income Tax Act. The court upheld the decisions of the CIT(A) and ITAT, concluding that no substantial question of law was involved in the Tribunal's order. Both appeals under Section 260A of the Income Tax Act were dismissed. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430310