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Hotel Renovation Expenses to maintain standards is revenue in nature: ITAT Cochin
Case Law Details
- Case Name
- ACIT Vs Mfar Hotels & Resorts Limited (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Cochin
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ACIT Vs Mfar Hotels & Resorts Limited (ITAT Cochin)
Assessee, engaged in running a five-star hotel under “Le Meridien,” incurred expenditure of Rs7,13,89,107 for renovating the International Convention Centre (ICC) constructed in 1998-99. ICC hosts various conventions, seminars & social functions. Due to extensive use over 12 years, the building required substantial refurbishment to maintain international standards. Assessee claimed the expenditure as revenue in nature noting that additions like increased floor area & additional fittings were capitalised se...
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