2015 (2) TMI 1285

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....ER 1. The Court - The subject matter of challenge in this appeal is a judgment and order dated 29th April, 2004 by which the learned Tribunal agreeing with the CIT(Appeals) held that the expenses incurred by the assessee were allowable under section 30 of the Income Tax Act. The facts and circumstances of the case briefly stated are as follows. 2. The assessee had an office at Kolkata and la....

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.... the Income Tax Act and the balance sum was to be treated as an expenditure of a capital nature. 3. The assessee preferred an appeal. The CIT(Appeals) held that the entire expenditure was of a revenue nature and therefore, deductible. In an appeal preferred by the revenue, the learned Tribunal has concurred with the views of the CIT(Appeals). It is this order of the learned Tribunal which is un....

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....xpenses on account of rent, rates, taxes, repairs and insurance of rented accommodation. An explanation has been added to section 30 which reads as follows : "30. Rent, rates, taxes, repairs and insurance for buildings.-In respect of rent, rates, taxes, repairs and insurance for premises, used for the purposes of the business or profession, the following deductions shall be allowed - ....

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....ry to carry on the business smoothly. The assessing officer had applied Explanation 1 to section 32 which reads as follows : "Explanation 1. - Where the business or profession of the assessee is carried on in a building not owned by him but in respect of which the assessee holds a lease or other right of occupancy and any capital expenditure is incurred by the assessee for the purposes of....