Where the assessee had incurred expenditure to conduct its business more efficiently and to increase its profits, while no new asset was brought into existence, it would be a revenue expenditure. (AY. 1991 -92 )
Jetha Properties Pvt. Ltd. v. CIT (2022) 440 ITR 524 / 209 DTR 201/ 324 CTR 326 / 286 Taxman 504 (Bom) ( HC)
S. 37(1) : Business expenditure –Capital or revenue – Ware house business – Expenditure for raising floor height of Godown – Expenditure incurred to run the business profitably is revenue expenditure.