9911796707
TMI Blog2003 (12) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Appellate Tribunal, Indore, has referred the following question under section 256(1) of the Income-tax Act, 1961 (for short, "the Act"), for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the investment of Rs. 1,05,377 on repairs to building was made for the enduring benefit and it cannot b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny rent under the belief that it will own the property very soon, the Tribunal observed that the investment was made for the enduring benefit which could not be termed as a business expenditure. In this view of the matter, the Tribunal dismissed the appeal of the assessee. Learned counsel for the applicant has submitted that it is the nature of the advantage derived from the investment made which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITR 900. In that case the Government agreed to construct a road subject to the cost being shared by the appellants and others. The appellants' contribution came to Rs. 26,100. The assessee, therefore, sought deduction of this amount as business expenditure which was not allowed. It was observed that having the new road constructed for the improvement of transport facilities was an enduring advant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot required to pay any rent to the owner of the land as he is entitled to interest accrued on the advance payment made to the owner. Investment in the construction and repairs was made after the execution of the agreement to sale under the belief that the assessee will own the property very soon. The facts of the present case are, therefore, also distinguishable from the other cases cited by learn ..... X X X X Extracts X X X X X X X X Extracts X X X X
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