1994 (7) TMI 56 - HC - Income Tax

Capital Or Revenue Expenditure Finding Of Fact Income Tax Act Investment Allowance Question Of Law

Summary

The High Court of Kerala dismissed the petition under section 256(2) of the Income-tax Act, 1961 as no referable question of law arose from the Tribunal's order. The Tribunal allowed the assessee's claim for deduction of expenses on decorative items, furniture, electrical works, and sanitary works as revenue expenditure, finding no enduring advantage derived by the assessee. The Tribunal also allowed investment allowance and extra-shift allowance on the generator based on Circular No. 1454 of the Central Board of Revenue.