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2021 (12) TMI 1087 - HC - Income TaxExpenditure on replacement of dies and moulds allowed as current repairs - HELD THAT:- As decided in M/S. TVS MOTORS LIMITED [2014 (2) TMI 522 - MADRAS HIGH COURT] Expenditure on replacement of dies and moulds are to be allowed as cur rent repairsReplacement of the new dye in the place of old dye would qualify for current repairs under Section 31 of the Act - The decision in CIT Vs. Sri Mangayarkarasi Mills P.Ltd[2009 (7) TMI 17 - SUPREME COURT] followed - what is allowable as revenue expenditure under Section 37 of the Act are those expenditure other than one falling for consideration under Sections 30 to 36 of the Act - when the picture tube in a television set is replaced, such repairs would come within the connotation of the phrase "current repairs" – thus, the claim being considered as current repairs, the same would fall under Section 31 of the Act as current repairs - Decided against revenue.
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