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2008 (9) TMI 336 - SC - Income TaxRevenue Expenditure Versus Capital Expenditure - Nature of expenditure on construction of the open drain for disposal of effluents – ITAT allowed the expenditure under the head ‘building account’, for the construction of drainage for disposal of effluents by treating the same as revenue expenditure – HC reversed the order of ITAT – held that - , framing of a proper substantial question of law is a mandatory requirement under section 260A of the Income-tax - since the High Court has not formulated a correct substantial question of law and since the High Court is required to take into account all the above mentioned facts and circumstances of the case, we set aside the impugned order and remit the matter to the High Court for fresh consideration in accordance with law
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