Clasification of expense

S.Ramakrishnan (Manager -Finance & Accounts)   (62 Points)

20 May 2020  

Dear Experts 

Good Morning.

I need a guidance.

We have spend an amount towards repairs in building to the tune of around Rs.30 lakhs and decided to capitalise.
 
Suppose if we   book this as expenditure will it is allowable under income tax act.
 
If it has to be booked  as asset what is the criteria 
 

How this has to be treated in the books

what will be the treatment in the books of accounts 

Thanks & Regards

S.Ramakrishnan