Held that repair and renovation of leased premises, allowable as revenue expenditure. Ex-gratia payment which was filed in the revised computation, the matter was remanded to the Assessing Officer. (AY 2014-15)
Karnataka Soaps and Detergents Ltd. v. ACIT (LTU) (2021) 90 ITR 85 (SN) (Bang.)(Trib.)
S. 37(1) : Business expenditure-Capital or revenue-Repair and renovation of leased premises-Allowable as revenue expenditure-Ex-gratia payment-Matter remanded. [ S. 43B]