Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (3) TMI 35 - HC - Income TaxExpenditure on purchase of drawn frame - "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the expenditure on purchase of drawn frame is "revenue expenditure?" - replacement has neither changed the installed capacity of the assessee nor brought into existence any new assets of enduring nature. The replacement of draw frame has not also brought any substantial improvement on the installed capacity of the textile unit – Held that cost of replacement of draw frame should only be treated as revenue expenditure
|