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TMI Blog2010 (11) TMI 391X X X X Extracts X X X X X X X X Extracts X X X X ..... ta Malhotra for the Appellant. Ms. Urvashi Dhugga for the Respondent. JUDGMENT Ajay Kumar Mittal, J. This appeal under section 260A of the Income-tax Act, 1961 (for short "the Act") has been filed by the assessee against the order dated 28-3-2005, passed by the Income-tax Appellate Tribunal, Delhi Bench "B", New Delhi (in short "the Tribunal") in ITA No. 28/Delhi/2001 relating to assessment year 1997-98. 2. The appeal was admitted on 21-11-2006, for determination of the following substantial question of law: "Whether on an application of the correct principles of law, was the Tribunal legally correct on the facts in the circumstances of the case, in holding that the expenditure incurred by the assessee-company on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T v. Madras Auto Service (P.) Ltd. [1998] 233 ITR 468/99 Taxman 575 (SC); 4. CIT v. TVS Lean Logistics Ltd. [2007] 293 ITR 432 (Mad.); 5. CIT v. Hari Vignesh Motors (P.) Ltd. [2006] 282 ITR 338 (Mad.); 6. Roger Enterprises (P.) Ltd. v. CIT [2008] 169 Taxman 41 (Delhi); 7. CIT v. HEDE Consultancy (P.) Ltd. [2003] 127 Taxman 597 (Bom.); 8. CIT v. Khimline Pumps Ltd. [2002] 125 Taxman 104 (Bom.); 9. CIT v. Laxmi Talkies [2006] 151 Taxman 99 (Guj.); 10. CIT v. Dasaprakash [1978] 114 ITR 210 (Mad.); 11. CIT v. Ooty Dasaprakash [1999] 237 ITR 902/[2000] 110 Taxman 275 (Mad.); 12. B and A Planatation Industries Ltd. v. CIT [2000] 242 ITR 22/[2001] 117 Taxman 323 (Gauhati); 13. CIT v. Porrits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore, has erred in holding it revenue expenditure merely because the assessee has incurred expenditure in rented premises. Such a reasoning taken by the Ld. CIT(A) after the amendment inserted by the Taxation Laws (Amendment Misc. Provision) Act, 1986, with effect from 1-4-1988 does not conform to the legal position. Explanation I that has been appended below section 32 of the Act with effect from 1-4-1988 reads as under: 'Where the business or profession of the assessee is carried on in a building not owned by him but in respect of which the assessee holds a lease or other right of occupancy and any capital expenditure is incurred by the assessee for the purpose of the business or profession on the construction of any structure or d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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