https://www.taxtmi.com/caselaws?id=211399 The High Court upheld the Tribunal's decisions in favor of the assessee regarding the treatment of replacement expenditure of machinery and repairs to rented premises as revenue expenditure. However, the Court ruled in favor of the Revenue on the interpretation of the concept of Block of Asset and disallowed the expenditure on repairs of a rented building under Section 37(1) of the Income Tax Act, stating it could not be deducted as it was not capital or personal expenditure. en-us Thu, 22 Dec 2011 00:00:00 +0530 Fri, 16 Mar 2012 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211399 The High Court upheld the Tribunal's decisions in favor of the assessee regarding the treatment of replacement expenditure of machinery and repairs to rented premises as revenue expenditure. However, the Court ruled in favor of the Revenue on the interpretation of the concept of Block of Asset and disallowed the expenditure on repairs of a rented building under Section 37(1) of the Income Tax Act, stating it could not be deducted as it was not capital or personal expenditure. Case-Laws Income Tax Thu, 22 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211399