2014 (6) TMI 117

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..... ued as holding over of the property after expiry of the lease period – thus, there is no question of allowing the written down value and the cost of construction as "current repairs" - "current repairs" is an expenditure incurred by the assessee for the purpose of maintaining machinery, building, etc., used for the purpose of business, it cannot be the written down value of the cost of constructi .....

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..... facts involved in the case would show that the assessee took a certain extent of land on lease from the Government of Kerala and constructed a building for business purpose. After the expiry of the lease period, the Government did not extend the lease. This matter was under challenge before this court and there was a stay of the directions issued by the Government and a direction to maintain statu .....

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..... urpose of business and, therefore, it cannot be the written down value of the cost of construction. The Tribunal also came to the finding that the judgment relied upon by the assessee in CIT v. TVS Lean Logistics Ltd. [2007] 293 ITR 432 (Mad) has no application to the facts of the case. 5. It is apparently clear that the assessee cannot claim the benefit of written down value of the cost of con .....

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