1978 (3) TMI 138 - AT - Income Tax

Summary

The Department appealed against the AAC's order modifying the assessment of the assessee for the assessment year 1975-76. The dispute was over whether the expenditure of Rs. 38,509 incurred for show-cases and decorations was revenue or capital in nature. The ITAT Madras held that Rs. 10,000 was allowable as revenue expenditure, while the remaining Rs. 28,509 was capital expenditure eligible for depreciation. The appeal was allowed in part. (Case: Appellate Tribunal ITAT MADRAS-D, Citation: 1978 (3) TMI 138 - ITAT MADRAS-D)