1977 (3) TMI 50 - AT - Income Tax

Summary

The Appellate Tribunal ITAT ALLAHABAD dismissed the revenue's appeal regarding the assessment for the year 1974-75. The dispute was over whether shop repair expenses of Rs. 13,994 were revenue or capital expenditure. The Tribunal upheld the Appellate Assistant Commissioner's decision that the expenses were revenue expenditure under section 37 of the Income Tax Act. The appeal was dismissed.