Expenditure on Lease Premises towards Civil Furniture etc. is Capital Expenditure

CIT Vs N. Viswanath (Madras High Court) The issue under consideration is whether the expenditure incurred by the assessee on the lease premises towards civil furniture, etc. is a revenue expenditure or capital expenditure? High Court is of view that the expenditure incurred by the Assessee in the present case are Capital in nature and come within the mischief of Explanation 1 to Section 32(1) of the Act. The alternate submission advanced by Mr.M.P.Senthil Kumar that the repairs to the premises cannot be capitalised in view of Section 30(a)(i) of the Act is rejected since the renovations made...