Dismissing the appeal of the revenue the Court held that the expenditure incurred towards repairs and renovation of its hotel properties such as dismantling Mangalore tiles, laying laterite stones, laying plaster, plaster of paris and painting, waterproofing, replacement of tiles and plumbing was an allowable revenue expenditure. (AY. 2008-09)
PCIT v. Goa Tourism Development Ltd. (2019) 261 Taxman 500 (Bom.)(HC)
S. 37(1) : Business expenditure–Capital or revenue–Repair and renovation is held to be revenue expenditure. [S. 30]