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2012 (5) TMI 698 - ITAT DELHIExtract: .......the sinking fund and the same cannot be allowed as revenue expenditure. Thus, we hold that an amount of ₹ 35,49091/- received towards sinking fund for replacement of assets is a capital receipt and not liable to be taxed. 7. In the result, the appeal filed by the assessee stands partly allowed. Order pronounced in the open court on 04/5/2012.
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