Repair Exp. on office/Lab. damaged by natural calamity treated as revenue Exp.
Nov. 02, 2015
Assessee-company kolkata office was damaged by fire & its goa laboratory by flood/cyclone. It incurred certain expenditure in respect of its office & laboratory. It claimed said expenditure u/s 30.AO disallowed it holding that same was to be treated as an expenditure of a capital nature.On appeal, CIT (A) Held, that entire expenditure was of revenue nature & therefore, deductible.On appeal, ITAT & HC upheld the order of CIT (A).-000259