Held that expenses incurred for repairs and improvement works in leased premises are held to be revenue expenditure. Special leave of appeal is dismissed. (AY. 2011-12)
PCIT v. Joy Alukkas (India) Pvt. Ltd. (2023) 452 ITR 271 (SC) Editorial: PCIT v. Joy Alukkas (India) Pvt. Ltd. (ITA No. 92/Coch/2016 dt. 26-9-2017)(Ker.)(HC) affirmed. Followed Joy Alukkas (India) Pvt. Ltd. (2015) 5 ITR-OL 340 (Ker) / (2016) 282 CTR 531 (Ker.)(HC)
S. 37(1) : Business expenditure-Capital or revenue-Repairs and improvements in leased premises-Allowable as revenue expenditure. [Art. 136]