https://www.taxtmi.com/caselaws?id=204419 The expenditure of Rs. 36,36,386 was deemed to be capital expenditure rather than current repairs. The court held that the expenditure resulted in the creation of a new asset, providing the assessee with enduring benefits. Additionally, the assessee was not entitled to create an investment allowance reserve under section 32A(4) of the Income-tax Act due to failure to make necessary book entries. The court ruled against the assessee on both issues, in favor of the Revenue, and disposed of the case accordingly. en-us Fri, 29 Oct 2010 00:00:00 +0530 Fri, 21 Dec 2012 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204419 The expenditure of Rs. 36,36,386 was deemed to be capital expenditure rather than current repairs. The court held that the expenditure resulted in the creation of a new asset, providing the assessee with enduring benefits. Additionally, the assessee was not entitled to create an investment allowance reserve under section 32A(4) of the Income-tax Act due to failure to make necessary book entries. The court ruled against the assessee on both issues, in favor of the Revenue, and disposed of the case accordingly. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204419