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2015 (10) TMI 2438 - ITAT PANAJI

2015 (10) TMI 2438 - ITAT PANAJI - TMI - Replacement cost - submission that the Assessee had submitted that the said expenditure was incurred for increasing the efficiency of the said machinery - revenue v/s capital expenditure - Held that:- A perusal of the photographs of the MDSI controller shows that the said equipment is a computer terminal which controls the lathe. It is an admitted fact that the said controller has been replaced due to technological advancement and not on account of damage .....

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of the controller alone in 2007-08 is at a cost of ₹ 35 lacs. The Assessee in its written submission has also categorically admitted that the said replacement was due to technological advancement and for increasing the efficiency. Thus, it becomes clear that the said lathe by this replacement has become more efficient thereby resulting in increase in the capacity and getting extended life. This is nothing but in the capital field. Thus, the said expenditure can be termed only as a capital .....

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he order of CIT(A), Panaji-1 in ITA No. 196/MRG/09-10 dt. 23.3.2015 for the A.Y 2007-08. Shri Ramesh S. Mutagar, ld. DR represented on behalf of the Revenue and Shri Pramod Y. Vaidya, Advocate alongwith Shri Lorence J. Malekar, CA and Shri Manjunath M. Hegde, CA represented on behalf of the Assessee. 2. It was submitted by the ld. DR that the Assessee is in the business of manufacture of complex engineering parts and development of computer software. It was the submission that in the course of t .....

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he said machinery and as the expenditure was incurred on the capital field, the AO had held the said expenditure to be a capital expenditure. It was the submission that on appeal, the ld. CIT(A) had directed that the expenditure was liable to be treated as a Revenue expenditure and that it qualified as current repairs. It was the submission that the order of the ld. CIT(A) was liable to be reversed insofar as the expenditure incurred by the Assessee was on the capital field. 3. In reply, the ld. .....

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ne to do the required machining operations. It was the submission that the MDSI controller cannot function independently and is not standalone equipment. It was part of the bigger CNC machine. The ld. AR drew our attention to the various photographs of the said MDSI controller at pages 3 & 4 of the paper book. It was the submission that the said expenditure was, in fact, a replacement of the MDSI controller, which was low memory controller, with high memory controller. It was the submission .....

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