Allowing the appeal of the assessee the Tribunal held that repair and renovation expenses incurred on the leased premises are in the nature of revenue expenditure . Tribunal also held that the CIT (A) cannot travel beyond the direction of the ITAT and disallow an expenditure holding it as non -genuine .( ITA No. 3204/ Del/ 2015 dt 5-3 -2020 ) ( AY. 2007 -08)
Aspect Research & Management P. Ltd v. ITO ( 2020) The Chamber’s Journal – June -P 81 (Delhi) (Trib)
S. 37(1) : Business expenditure – Capital or revenue- Repair and renovation of leased premises – Revenue expenditure – Power of CIT (A) – Cannot travel beyond the direction of the ITAT order [ S.250, 254(1)]