https://www.taxtmi.com/caselaws?id=59285 The Appellate Tribunal ITAT BOMBAY-E affirmed the decision of the CIT (A) in the assessment of an assessee for the assessment year 1980-81. The Tribunal held that the expenditure of Rs. 75,000 towards the cost of High Voltage Electrical Installation was revenue in nature, not capital. It was determined that the assessee did not acquire any capital asset through the expenditure, as the asset belonged to the cooperative society. The Department's appeal challenging the characterization of the expenditure as revenue was dismissed. en-us Fri, 31 Jan 1986 00:00:00 +0530 Mon, 27 Dec 2010 16:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59285 The Appellate Tribunal ITAT BOMBAY-E affirmed the decision of the CIT (A) in the assessment of an assessee for the assessment year 1980-81. The Tribunal held that the expenditure of Rs. 75,000 towards the cost of High Voltage Electrical Installation was revenue in nature, not capital. It was determined that the assessee did not acquire any capital asset through the expenditure, as the asset belonged to the cooperative society. The Department's appeal challenging the characterization of the expenditure as revenue was dismissed. Case-Laws Income Tax Fri, 31 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59285