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2015 (8) TMI 1064 - AT - Income TaxAggregate expenditure incurred during the year on replacement of various items of textile machinery - capital or revenue expenditure - Held that:- On identical facts, the Co-ordinate Bench of this Tribunal in the case of The Kumaran Mills Ltd. v. ACIT [2015 (8) TMI 1063 - ITAT CHENNAI] held that replacement of draw frames are capital expenditure not allowable as deduction under sec.37 . Also see CIT v. Srif Mangayarkarasi Spinning Mills (P) Ltd. (2009 (7) TMI 17 - SUPREME COURT) - Decided against assessee.
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