Expenses incurred for Infrastructure Development of leased property are Revenue Expenditure: ITAT upholds Deletion of Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi bench  held that expenses incurred for the infrastructure development of leased property are revenue expenditure. Therefore the bench upheld the addition deleted by the Commissioner of Income Tax (Appeals). Assessee, Ball Beverage Packaging (India) Pvt. Ltd entered into the infrastructure development agreement with M/s Sri City (P) Limited…