https://www.taxtmi.com/caselaws?id=444244 Expenditure on hotel renovation, refurbishment, repairs and pressurisation of lift shafts was treated as revenue expenditure because it preserved and improved the existing profit-making apparatus without creating a new asset or capital advantage. The consultancy fee paid for conceptualising, planning and supervising that renovation followed the same character and was also deductible as revenue expenditure. Where items had earlier been capitalised in the accounts but were later claimed as revenue, the true nature of the expenditure required factual scrutiny and was remanded for fresh examination by the Assessing Officer. en-us Mon, 09 Oct 2023 00:00:00 +0530 Fri, 01 Mar 2024 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444244 Expenditure on hotel renovation, refurbishment, repairs and pressurisation of lift shafts was treated as revenue expenditure because it preserved and improved the existing profit-making apparatus without creating a new asset or capital advantage. The consultancy fee paid for conceptualising, planning and supervising that renovation followed the same character and was also deductible as revenue expenditure. Where items had earlier been capitalised in the accounts but were later claimed as revenue, the true nature of the expenditure required factual scrutiny and was remanded for fresh examination by the Assessing Officer. Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444244