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2004 (12) TMI 50 - GUJARAT HIGH COURTExpenditure on renovation of the theatre, stamp duty, interest payment, etc. - "Whether the assessee is entitled to allowance of an amount of Rs. 2,49,508 on account of renovation of the theatre, stamp duty, interest payment, etc., as an admissible deduction as revenue expenditure?" - it is apparent that the assessee had merely incurred the expenditure in rented premises to facilitate its trading operations in a more efficient manner leaving the fixed capital untouched. The result of the expenditure incurred was that it would enable the assessee to generate more revenue by inviting greater flow of customers to the cinema hall without bringing into existence any new asset or an advantage of enduring nature considering the status of the assessee as a lessee. – Thus question isanswered in the affirmative, i.e., in favour of the assessee
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