https://www.taxtmi.com/caselaws?id=56602 The Tribunal concluded that the expenses incurred by the assessee for renovation and reconstruction were capital in nature. Therefore, the expenses could not be allowed as revenue expenditure or as commercial expediency under section 37 in the computation of the assessee's income for the respective years. The orders of the Appellate Assistant Commissioner were set aside, and those of the Income Tax Officer were restored. Consequently, the appeals were allowed. en-us Sat, 28 Jul 1984 00:00:00 +0530 Sat, 04 Dec 2010 17:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56602 The Tribunal concluded that the expenses incurred by the assessee for renovation and reconstruction were capital in nature. Therefore, the expenses could not be allowed as revenue expenditure or as commercial expediency under section 37 in the computation of the assessee's income for the respective years. The orders of the Appellate Assistant Commissioner were set aside, and those of the Income Tax Officer were restored. Consequently, the appeals were allowed. Case-Laws Income Tax Sat, 28 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56602