Sec. 37(1) of the Income-tax Act, 1961 - Business expenditure - Revenue filed tax appeal before High Court against the order of Tribunal in deleting the addition of Rs. 1,65,02,262/- by Assessing Officer on account of renovation expenses treating the same as capital expenditure as the assessee is in the business of hotels. High Court dismissed the revenue appeal by applying the considering that the judgment of Apex Court in the case of Madras Auto Service (P.) Ltd. on the point. SLP of revenue also dismissed due to low tax effect. - CIT V/s NEW KENILWORTH HOTEL (P.) LTD. - [2020] 272 TAXMAN 108 (SC)