Current repairs u/s 31- repair / replacement of damaged ...

Income Tax

November 10, 2011

Current repairs u/s 31- repair / replacement of damaged transformer - Held that:- it was case of restoration of its existing capabilities and not a case of acquisition of new asset or obtaining any advantage of enduring nature - claim of expenditure allowed.... - HC

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Current repairs u/s 31- repair / replacement of damaged ...

Income Tax

November 10, 2011

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Expenditure incurred for modernisation / replacement of machinery is not "current repairs" u/s 31(i) - SC

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Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

Claim of deduction as Current repairs u/s 31 - when each of the Department/Division perform different functions, repair/substitution of an old machine will not come...

Nature of expenditure - current repairs - Replacement of an old machine with a new one would constitute the bringing into existence of a new asset in place of the old...

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Nature of expenditure - current repairs - cost of replacement of machineries like Motor Rollers, Spindles, Gears etc. in the Textile Mill - the replacement of the...

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Current Repairs - ‘Nature & Treatment’ of expense

Current repairs – assessee cannot claim the benefit of written down value of the cost of construction which he had incurred under the head Current repairs - HC

Waste and scrap aroused from manufacturing of parts for repair / replacement of damaged plants/ structures are excisable commodity.... - AT

Expenses on purchase on new items - Acquisition of new assets for replacement of existing assets as current repairs - 10% of items listed by the AO are held to be of capital - AT

Revenue or Capital expenditure – replacement/ overhauling/ rejuvenation - to preserve and maintain already existing asset - allowed as current repairs - AT

Disallowance expenditure towards replacement of machinery - Revenue OR Capital - not amounting to "current repairs" and to be not allowed as revenue expenditure - HC

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