2014 (6) TMI 529

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..... ure incurred by the assessee has neither resulted in bringing into existence of any new asset nor any permanent/enduring benefit had accrued to the assessee - the expenditure incurred by the assessee cannot be treated to be a capital expenditure - CIT(A) relied upon assessee’s own case for the earlier assessment year, and treated it as revenue expenditure – thus, there was no reason to interfere i .....

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..... , a company engaged in the business of manufacture, sale, processing, trading of chemicals and agency commission, during the year under consideration had claimed/incurred repairs and maintenance expenses of building amounting to Rs.52,62,000/-. However, in the assessment framed under section 143(3) of the Income Tax Act, the AO had disallowed an amount of Rs.19,96,293/- of the said expenditure on .....

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..... is order at page no 3. The perusal of the details of the expenditure claimed by the assessee reveals that the expenditure incurred by the assessee has neither resulted in bringing into existence of any new asset nor any permanent/enduring benefit had accrued to the assessee. In such an event, the expenditure incurred by the assessee cannot be treated to be a capital expenditure. Moreover, the Ld.C .....

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