INCOME TAX : Where assessee-company, a warehouse keeper, had incurred expenditure towards raising floor height of its warehouse so as to prevent water logging during monsoon, since assessee did not bring into existing any new asset and impugned expenditure was related to carrying on or conducting of warehouse business of assessee, same was to be allowed as revenue expenditure under section 37(1)INCOME TAX : Where assessee-company, a warehouse keeper, had incurred expenditure towards raising floor height of its warehouse so as to prevent water logging during monsoon, since assessee did not bring into existing any new asset and impugned expenditure was related to carrying on or conducting of warehouse business of assessee, same was to be allowed as revenue expenditure under section 37(1)www.taxmann.com Latest Case LawsRead More
