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1999 (7) TMI 12 - HC - Income TaxExtract: .......1999 238 ITR 351, that the expenditure of replacement of parts of machinery is not to be regarded as capital in nature. The Revenue s contention that the cost of replacement of ring frames should be treated as capital expenditure had been rightly rejected by the Tribunal. We do not find any merit in this petition. Hence, this petition is dismissed.
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