Saturday, July 27, 2019

Exp. incurred for upgrading cricket stadium in accordance with ICC standards was revenue in nature: HC

INCOME TAX : Expenditure incurred by assessee-Cricket Club of India for renovation and interior work of stadium, construction of foundation of camera, staircase, control room, fabrication and erection of structural steels, fixing of MS sliding gates, different pipes for sprinkler system in main ground, excavation of soil, purchasing of LED replay screen, electric materials etc., for upgrading stadium in accordance with ICC Standards, was revenue in nature

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