Routine Repairs & Maintenance Allowed as Revenue Expense Due to No Enduring Benefit

Natural Capsules Limited Vs ITO (ITAT Bangalore) Routine Repairs ≠ Capital Spend: ITAT Bangalore Allows Plant Repairs & Share-Related Professional Fees The Bangalore SMC Bench of the ITAT partly allowed the appeal of the Assessee-company and deleted disallowances on repairs & maintenance of plant and machinery as well as professional charges, holding both to be revenue expenditure allowable u/s 37(1). AO had treated substantial repairs and maintenance expenses as capital in nature and made an ad-hoc disallowance of 20% of professional fees, alleging linkage with increase in share cap...