https://www.taxtmi.com/caselaws?id=61823 Expenditure on repair and replacement of machinery in an integrated sugar plant was held to be revenue in nature because the outlay only maintained the operational efficiency of the profit-making apparatus and did not create any enduring asset or independent advantage; the deduction was therefore allowable. Bonus and ex gratia payments made to employees under settlement and established custom were also treated as allowable business expenditure, since they were incurred in the course of business and were not disallowed merely because they exceeded the assessing authority's limit; the disallowance was unsustainable. en-us Thu, 20 Feb 1992 00:00:00 +0530 Sat, 15 Jan 2011 14:19:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61823 Expenditure on repair and replacement of machinery in an integrated sugar plant was held to be revenue in nature because the outlay only maintained the operational efficiency of the profit-making apparatus and did not create any enduring asset or independent advantage; the deduction was therefore allowable. Bonus and ex gratia payments made to employees under settlement and established custom were also treated as allowable business expenditure, since they were incurred in the course of business and were not disallowed merely because they exceeded the assessing authority's limit; the disallowance was unsustainable. Case-Laws Income Tax Thu, 20 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61823