Dismissing the appeals of the Revenue the Court held that the expenses incurred  on account of the modifications done in the various lease premises taken by the assessee for the purpose of its business did not create any new asset, that the expenditure of renovation and repairs of stores assumed a character of revenue in nature, that the expenditure incurred by the assessee was necessary for the purpose of business within the ambit of section 37(1) and that no new asset had come into existence were findings of fact based on consideration of relevant material on record. (AY.2012-13, 2013-14)