TaxTMI 
TaxTMI 
2014 (3) TMI 620
X X X X Extracts X X X X
X X X X Extracts X X X X
....he revenue against the order passed by the Income-tax Appellate Authority, Cochin Bench in C.O.No.124/Coch/2008 in I.T.A. No. 906/Coch/2008 with reference to the assessment year 2005-2006 of the assessee-company. 2. For the assessment year 2005-2006, assessment was completed under Section 143(3) of the Income-tax Act (for short 'the Act') fixing a total income of the assessee at Rs. 2,03,....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ed only with reference to deletion of expenses on repairs, which is held to be revenue expenditure. Following substantial questions of law had been raised in the present appeal: "Whether, on the facts and in the circumstances of the case, (a) the assessee is entitled to claim the expenditure as revenue expenditure; (b) for the reasons stated in the statement of case, ground raised and tests lai....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e of running the business more efficiently. Reference is also made to the judgment of the Rajastan High Court in C.I.T. v. Dr. A.M. Singhvi, (2008) 3 ITR 26. The issue involved was whether such amount otherwise spent by the assessee was a capital expenditure or a revenue expenditure. The learned counsel for the appellant relied upon Explanation 1 to Section 32(1) of the Act in order to contend tha....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ement to a building taken on lease by the assessee for carrying on his business and profession but not in a case of construction of any structure or doing any work where such building is put up or constructed for the purpose of the business or profession of the assessee in land taken on lease by the assessee. The assessee did not acquire a capital asset but had put up a construction of the buildin....