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2006 (1) TMI 92 - MADRAS HIGH COURTExpenditure u/s 37 and Deduction under section 80HHC - "1. Whether, Tribunal was right in allowing a deduction of the amounts spent on replacement of machinery as revenue expenditure? 2. Whether, replacement of independent complete machinery can be treated as revenue expenditure? 3. Whether, Tribunal was right in holding that excise duty and sales tax does not form part of the turnover, for the purpose of calculation of deduction under section 80HHC? 4. Whether, Tribunal was right in holding that the insurance compensation received by the assessee is to be treated as a capital receipt?" - we do not find any error in the order of the Tribunal and no question of law much less a substantial question of law arises for consideration of this court. Hence, the appeals are dismissed
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