2006 (1) TMI 83

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.... as revenue expenditure in the assessment year 1995-96, when the work was undertaken in the year 1993-94? (ii) Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the deferred revenue expenditure claimed by the assessee on account of certain repair/renovation works is deductible as revenue expenditure on the ground that since the premises was leased, there could not be any enduring benefit? and (iii) Whether, on the facts and circumstances of the case, the Tribunal was right in dismissing the Department's appeal without taking cognisance of two vital grounds: (a) Validity of revised return in which the expenditure was claimed? (b) Claim in respect of expenditure incurred in an earlier year....

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....previous year was not supported by any necessary evidence and in any case, that would not make any vital difference in the claim of the assessee, as the receipt of debit note in the previous year has not been disputed by the Assessing Officer. For the above said reason, the first question of law now raised in these appeals stood reversed. In respect of the claim of the Department that the expenditure incurred was capital in nature, the Commissioner of Income-tax (Appeals) has given a reason that the payment made in the course and for the purpose of carrying on business or trading activity would be a revenue expenditure, even though the payment is of a large amount and has not been made periodically. The Commissioner of Income-tax (Appeal....