Repairs, Rent & Insurance of Furniture and Plant & Machinery - Section 31

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..... fession. Note: i. Capital expenditure on repair shall be added to the cost of plant machinery. ii. As per Supreme Court in Sri Mangayarkarasi Mills (P) Ltd. 2009 (7) TMI 17 - SUPREME COURT expenditure on replacement of old machinery by new machinery is not allowable as revenue expenditure and depreciation shall be allowed on the same. Other Relevant Information - Expenditure on replacement of dies .....

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