2014 (6) TMI 742

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....-President: This appeal by the Revenue for the assessment year 2007-2008 is directed against the order of the CIT(A). 2. The ground no. of the appeal of the Revenue is as under: "1. The ld.CIT(A) erred in law and on facts in directing to allow the deduction of the entire amount of shop renovation and current repairs expenditure amounting to Rs.10,33,984/- as claimed by the assessee AND withdraw....

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.... have considered rival submissions and perused the orders of the AO and the CIT(A). We find that no new asset has come into being on account of expenditure incurred by the assessee on replacement of old tiles, wooden partition, pest control, colouring, rolling shutter, flat glass, plywood, sanitary ware, hardware and labour charges thereon. The business premises of the assesse were taken on lease.....

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.... assessee has to update latest version of the software for the business purpose and has not resulted in creation of a new asset. 7. We have considered rival submissions and perused the orders of the AO and the CIT(A). The basic facts of the issue are not in dispute. The expenditure incurred by the assessee on replacement of old software for Rs.69,187/- and rest of the expenditure on account of an....

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....tor car was rightly made by the AO. The learned counsel for the assessee submitted that the motor car was reflected in the assessee's balance sheet year after year and it is usual practice to sell the old vehicles to its own employees. He relied on the order of the CIT(A). 10. We have considered rival submissions and perused the orders of the AO and the CIT(A). We find that the assessee has not e....