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2015 (8) TMI 1063 - AT - Income TaxExpenditure incurred for the purpose of replacement of Draw Frame - textile machinery - capital or revenue expenditure - Held that:- Replacement of Draw Frame is a capital expenditure not allowable as deduction under sec.37 - See CIT v. Ramaraju Surgical Cotton Mills Ltd. [2007 (8) TMI 39 - SUPREME COURT OF INDIA] and CIT v. Srif Mangayarkarasi Spinning Mills (P) Ltd. (2009 (7) TMI 17 - SUPREME COURT). Also see CIT, Madurai v. Madura Coats [2011 (12) TMI 293 - MADRAS HIGH COURT] - Decided against assessee.
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