1975 (9) TMI 41

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..... Act, 1961 (hereinafter referred to as " the Act "), for the opinion of the court pursuant to a direction given by the court : " Whether, on the facts and in the circumstances of the case, the claim of the assessee in respect of Rs. 16,499 on the head of expenditure was of revenue character and, therefore, admissible or was of capital nature and, therefore, not to be allowed ? " The year of as .....

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..... 000 which represented expenditure for improvement of the cinema hall is now to be considered. There is no dispute that if the expenditure is of revenue character it would be admissible as a deduction and if it is in the nature of capital expenditure no deduction would be permissible. Improvements in respect of the cinema hall would ordinarily be of abiding interest and an expenditure on such hea .....

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..... t one place the Tribunal has described the status of the assessee as lessee and on that footing this court while giving the direction for starting at case had mentioned the assessee's status to be that of a lessee. Even if the assessee be a lessee, the expenditure would be capital investment and as such would not be deductible. In respect of capital investment, depreciation is admissible, but as t .....

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