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2017 (3) TMI 977 - HC - Income TaxAllowable business expenditure - Held that:- Bringing into existence a new asset or an enduring benefit for the assessee amounts to capital expenditure. We have already explained why replacement, in this case, amounts to bringing into existence a new asset and also an enduring benefit for the asses see. It is clear then that expenditure of the assessee here is not of a revenue nature and thus, cannot be claimed as a deduction under section 37 of the Act. - Decided against assessee.
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