Expenditure to make lease premises workable/ functional is revenue in nature

Advertisement Kirtilal Kalidas Jewellers Private Limited Vs ACIT (ITAT Chennai) ITAT Chennai held that expenditure towards furniture maintenance which is incurred to make the lease premises workable and functional is revenue in nature. Facts- During the course of the assessment proceedings, AO noticed that the Assessee has debited huge expenditure under the head “Furniture Maintenance” and therefore called upon the Assessee to file necessary details. In response, the Assessee had filed details of expenditure under the head “Furniture Maintenance” which includes plywood purchases, ha...