Court Upholds Assessee's Claim: Repair Costs Not Capital Expenditure, No New Asset or Enduring Benefit Created.

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....Nature of expenditure - Disallowance of repair and maintenance charges - The assessee has taken a plea that no new asset is created or no benefit of enduring nature has been derived. We do not see any rebuttal on this score from the revenue. The Assessing Officer has merely proceeded on a hypothesis of such expenditure being capital in nature without showing any justifiable grounds for doing so. The Assessing Officer has capitalized such expenditure without showing any reasonable grounds - CIT(A) rightly allowed the claim - AT....