26 December 2019
If the expenditure incurred on repairs and maintenance is capitalized to the building in the books of accounts, then the ITC on the same cannot be availed. However, if the same is expensed off in the books then the same can be availed as the restriction in sec. 17(5) says that the goods or services used in construction of any immovable property on own account is restricted and the term construction means alteration, repair, renovation....... to the extent of capitalized to the said immovable property in the books of accounts.
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