Fact of case-
is it capital or revenue expenditure ???
Department treated it capital exp.
But this renovation does not change the functionality neither add any new benifit to the building? is it justified
It is a capital expenditure only since it increases the value of the building and it will lead to higher sales consideration in the FUTURE if sold.
for more queries : https://knowyourtaxation.blogspot.in/
Dear Shashank, increase in resale value cannot be attributed to change in front elevation only, as per my understanding SC ruling was that if the utility of the asset is enhanced then it will be capital expense?
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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