<h1>Supreme Court Clarifies 'Current Repairs' Definition u/s 31(i) of Income Tax Act; Deductions for Modernization Denied.</h1> The Supreme Court of India ruled on the interpretation of 'current repairs' under section 31(i) of the Income Tax Act, 1961. The case involved an assessee claiming deductions for modernization and replacement expenses for the accounting years ending March 31, 1993, and March 31, 1994. The amounts claimed were Rs. 97,95,755 and Rs. 77,84,047, respectively. The Court denied the claims, stating that the Commissioner of Income-tax (Appeals), the Tribunal, and the High Court failed to apply the correct test to determine if the expenditures qualified as 'current repairs.' The ruling clarified that revenue expenditure does not automatically qualify as current repairs.