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TMI Blog2019 (7) TMI 1440X X X X Extracts X X X X X X X X Extracts X X X X ..... the main ground, excavation of soil, purchasing of LED Reply screen, electric materials etc. for upgrading the stadium in accordance with ICC Standards - revenue or capital expenditure - HELD THAT:- Perusal of the materials on record and in particular the impugned judgment of the Tribunal would show that the respondent-assessee had organized several matches of ICC Champion s Trophy. In order to d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... THAWALLA, JJ. For The Appellant : Mr. Suresh Kumar with Ms.Swapna Gokhale and Ms.Sumandevi Yadav For The Respondent : Mr. R. Murlidharan i/by Mr. Atul Jasani ORDER P. C.:- 1. This appeal is filed by the revenue to challenge the judgment of the Income Tax Appellate Tribunal ( Tribunal for short). Followi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed the return of income for assessment year 2007-2008. While scrutinizing the return, the Assessing Officer noticed that the assessee had incurred expenditure of ₹ 3.91 crores (rounded off) in upgradation of the cricket stadium and various other incidental requirements. The Assessing Officer was of the opinion that the expenditure was capital in nature and therefore, disallowed the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... similar facilities. The board had also expended in providing proper security and car parking facilities. It was in this background the Tribunal had held that the expenditure was revenue in nature. 4. Looking to the nature of expenditure, it can be seen that the assessee did not create a new asset or create a source of enduring benefit. Essentially, the expenditure was for upgradati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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