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Building renovation, Income Tax |
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Building renovation |
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Need info on accounting for renovation of building? Need taxation view and accounting view.
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
If the renovation expenditure enhances the value of buildings and also increases the life-cycle of the building. Hence the same to be treated as Capital Expenditure. However if the same expenditure is incurred by tenant then it is revenue expenditure. Refer: Modi Spg. & Wvg. Mills Co. Ltd. v. CIT [1993] 200 ITR 544 (Delhi) Page: 1 Old Query - New Comments are closed. |
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