https://www.taxtmi.com/caselaws?id=62172 A vehicle purchased only for its usable spare parts was treated as revenue expenditure where the parts were removed for use in an existing car, and the registration and fitness certificate of the purchased vehicle were cancelled. On those facts, the vehicle had no continuing business value after dismantling and did not constitute a capital asset yielding an enduring advantage. The cost was therefore characterised as expenditure on parts consumed in the business rather than a depreciation claim on a capital asset, and the full purchase price was allowed as revenue expenditure. en-us Tue, 22 Feb 1983 00:00:00 +0530 Tue, 18 Jan 2011 13:50:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62172 A vehicle purchased only for its usable spare parts was treated as revenue expenditure where the parts were removed for use in an existing car, and the registration and fitness certificate of the purchased vehicle were cancelled. On those facts, the vehicle had no continuing business value after dismantling and did not constitute a capital asset yielding an enduring advantage. The cost was therefore characterised as expenditure on parts consumed in the business rather than a depreciation claim on a capital asset, and the full purchase price was allowed as revenue expenditure. Case-Laws Income Tax Tue, 22 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62172