https://www.taxtmi.com/caselaws?id=312490 The Tribunal allowed the appeal, overturning the disallowance by the CIT(A) and the Assessing Officer regarding Rs. 55,70,068/- in repair and maintenance expenses. It concluded that these expenses were for maintaining existing assets, not creating new ones, thus qualifying as revenue expenditure under Section 37(1) of the Income Tax Act. en-us Thu, 06 Jun 2019 00:00:00 +0530 Thu, 22 Feb 2024 05:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312490 The Tribunal allowed the appeal, overturning the disallowance by the CIT(A) and the Assessing Officer regarding Rs. 55,70,068/- in repair and maintenance expenses. It concluded that these expenses were for maintaining existing assets, not creating new ones, thus qualifying as revenue expenditure under Section 37(1) of the Income Tax Act. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312490