Bombay High Court Allows Revenue Appeal in Income Tax Case — Cost of Repair/Reconstruction of Tenanted Premises Held Capital in Nature. The court held that the contribution of Rs.1.50 Crores by the tenant-assessee for repair/restoration of the building was capital expenditure, not allowable as revenue deduction under Section 30(a)(i) of the Income Tax Act, 1961.
30 Jan 2012The case involves an appeal by the Revenue against the order of the Income Tax Appellate Tribunal which allowed the assessee's claim for deduction of ...
