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2011 (1) TMI 8 - SCH - Income TaxCurrent Repairs - amounts spent for replacement of ring frames - claim u/s 31(i) as current repairs but AO contended that the said replacement not covered under current repairs - matter disposed off in view of CIT vs Saravana Spinning Mills Private Limited reported in (2007 -TMI - 1775 - SUPREME COURT) and CIT vs. Ramaraju Surgical Cotton Mills reported in (2007 -TMI - 2064 - SUPREME COURT) wherein it was held that expenditure incurred by the assessee for modernisation and replacement does not came within the connotation of the words current repairs in section 31(i).
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