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Expenditure on leave & licence premises

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2012 Assessee is a pvt Ltd Company, & has taken premises on Leave & Licence.
The assessee has incurred Expenditure on flooring/ Painting/ Renovation ( Huge Amount)
The assessee can capitalise these expenses as What Furniture Fixture or Furniture Fittings, or Repairs & Renovation Cpaitalised( though these are not related to furniture)
this question is asked because after say 2-3 years if the assesee vacates the premises, the assessee cannot take these fittings along, then at that time what happens to the block of assets?
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 August 2012 Many caselaws are available where the tribunals have agreed to treat such expenditure as revenue expenditure.
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