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TMI Blog2014 (3) TMI 620X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee had incurred the expenditure for the purpose of business or profession of the assessee in the property taken on lease, the assessee did not acquire any capital asset but was only making certain expenditure for business advantages – thus, the authorities below had not committed any error in treating the expenditure as revenue expenditure. - ITA. No. 308 of 2010 - - - Dated:- 8-1-2014 - Dr. Manjula Chellur, CJ And A M Shaffique,JJ. For the Appellant a: Sri. Jose Joseph, SC for Income Tax For the Respondent : None JUDGMENT Shaffique, J. This is an appeal filed by the revenue against the order passed by the Income-tax Appellate Authority, Cochin Bench in C.O.No.124/Coch/2008 in I.T.A. No. 906/Coch/2008 with re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the expenditure capital in nature and the Tribunal is right in law in holding otherwise and is not the conclusion of ITAT perverse and against law? 5. The Tribunal has come to a finding that the assessee has renovated rented premises. It is also found that the Department has no case that the amounts spent by the assessee will be reimbursed or compensated by the lessor. 6. The original space which did not meet the requirement of a proper recreation area was converted to conform to the standards of proper recreation facility. It is found by the Tribunal that the re-designed area at the end of the lease period will have to be handed over to the lessor. It is therefore found that additional facility thus acquired by the assessee company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken on lease by the assessee. The assessee did not acquire a capital asset but had put up a construction of the building only for business advantage with the result that the entire construction cost was admissible as revenue expenditure. 7. As long as the authorities below have found that the assessee had incurred the expenditure for the purpose of business or profession of the assessee in the property taken on lease, the assessee did not acquire any capital asset but was only making certain expenditure for business advantages. In such circumstances, we do not think that the authorities below had committed any illegality in treating the said expenditure as revenue expenditure. 8. That apart, this Court had elaborately considered th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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