depreciation

if the bldg is not put to use, you can capitalize the expenses of painting

wall paint does not increase the life of the asset. it only makes the asset look good as we are required to give paint say after every 7-8years. it will be not be capitalized but charged to revenue

in my opinion any expenses incurred before putting up the asset for use, should be allowed to be capitalized. As the asset in not used in business, expenses cannot be claimed as revenue exp.Expenses incurred afterwards, on painting, during the life time of asset can be claimed as revenue exp
In this case, query is regarding 1st paint