Treatment of lifetime road tax (capital or revenue)

it should be treated as capital expenditure                   

yes it should be treated as capital expenditure and added to cost of acquisition

There is limitation of such expenditure, viz for two wheelers, its 15 yrs, for 4 wheelers its 5 years, and its added to cost of vehicle at the time of purchase of vehicle, any amount paid at the time of purchase of vehicle is capitalized automatically

there is nothing like lifetime, at the end of tennure of 5/15 yrs such regustration is renewed, and such expenses should be treated as revenue expenditure, as its not transferable and no resale value in absence of vehicle. 

Can some one Plz explain with an Example.