https://www.taxtmi.com/caselaws?id=434326 The Appellate Tribunal ITAT Pune ruled in favor of the Assessee, allowing the appeal against the addition of Rs. 50,54,779 and the classification of repairs and maintenance expenses as capital expenditure. The Tribunal held that the expenditure on repairs and renovation of the factory premises was revenue in nature, emphasizing that it aimed at maintaining and preserving the existing asset rather than creating a new one. The Assessee's appeal was allowed, and the expenditure was deemed allowable as revenue expenditure. en-us Fri, 13 Jan 2023 00:00:00 +0530 Tue, 21 Feb 2023 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434326 The Appellate Tribunal ITAT Pune ruled in favor of the Assessee, allowing the appeal against the addition of Rs. 50,54,779 and the classification of repairs and maintenance expenses as capital expenditure. The Tribunal held that the expenditure on repairs and renovation of the factory premises was revenue in nature, emphasizing that it aimed at maintaining and preserving the existing asset rather than creating a new one. The Assessee's appeal was allowed, and the expenditure was deemed allowable as revenue expenditure. Case-Laws Income Tax Fri, 13 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434326