https://www.taxtmi.com/caselaws?id=35323 The High Court upheld the tribunal's decision regarding the treatment of expenditure for modernization and expansion as revenue instead of capital. It affirmed that administrative expenses related to renovation of units were revenue in nature, not capital, due to the ongoing business operations. The court dismissed the appeals, finding no substantial question of law, and emphasized the importance of distinguishing between revenue and capital expenditure in the context of unity of control and continuing business activities. en-us Fri, 23 Jan 2009 00:00:00 +0530 Mon, 15 Feb 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35323 The High Court upheld the tribunal's decision regarding the treatment of expenditure for modernization and expansion as revenue instead of capital. It affirmed that administrative expenses related to renovation of units were revenue in nature, not capital, due to the ongoing business operations. The court dismissed the appeals, finding no substantial question of law, and emphasized the importance of distinguishing between revenue and capital expenditure in the context of unity of control and continuing business activities. Case-Laws Income Tax Fri, 23 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35323