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Exp. incurred on improvement of building taken on lease to be treated as capital in nature : Madras HC

June 3, 2019[2019] 105 taxmann.com 289 (Madras)/[2019] 263 Taxman 497 (Madras)/[2019] 414 ITR 148 (Madras)

IT: Where assessee had taken a building on lease and incurred expenditure towards interior improvement and further construction of two floors of said building, impugned expenditure incurred by assessee had brought enduring benefit; therefore, same was capital in nature and would come within mischief of Explanation 1 to section 32(1)

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