Held that the expenditure incurred by the assessee on renovation of leasehold building was revenue expenditure and not a capital expenditure though it was of enduring benefit or advantage unless at the end of the term of lease, the items on which expenditure was spent could be retrieved by the assessee. ( AY.2010-11)
Joy Alukkas (India) Ltd. v. ACIT (2018) 65 ITR 409 (Cochin ) (Trib)
S.37(1): Business expenditure -Capital or revenue -Expenditure incurred on renovation of leasehold building is revenue expenditure .