2013 (2) TMI 450

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....n J.-The assessee has preferred the present tax case (appeal) as against the order of the Income-tax Appellate Tribunal, raising the following substantial question of law :"Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the repairs and renovation expenses incurred on the leased business premises as capital expendi-ture ?" 3. The assessee, here....

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....inguishing the judgment relied on by the assessee in the case of CIT v. Kisenchand Chellaram (India) P. Ltd. reported in [1981] 130 ITR 385 (Mad), the Tribunal held that after the amendment to Explanation 1 to section 32(1)(ii) of the Income-tax Act, the said judgment could not be of any assistance of the assessee's case and, hence, only the Explanation would apply. In the circumstances, the Tribu....

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....ng to the decision of the apex court reported in CIT v. Madras Auto Service P. Ltd. [1998] 233 ITR 468 (SC), this court pointed out that the expenditure incurred in respect of the maintenanceof the leased premises was deductible as revenue expenditure. 4. As regards the contention taken by the Revenue placing reliance on Explanation 1 to section 32(1)(ii) of the Income-tax Act, which was insert....