https://www.taxtmi.com/caselaws?id=212045 The Tribunal upheld the Revenue's treatment of the expenditure on replacement of machinery as capital expenditure, disallowing it as revenue expenditure under section 37(1). The issue of interest chargeability under sections 234B and 234C was remanded to the AO for further adjudication in accordance with the law. The appeals were partly allowed, with the Tribunal's decision reflecting these outcomes. en-us Tue, 28 Feb 2012 00:00:00 +0530 Wed, 11 Apr 2012 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212045 The Tribunal upheld the Revenue's treatment of the expenditure on replacement of machinery as capital expenditure, disallowing it as revenue expenditure under section 37(1). The issue of interest chargeability under sections 234B and 234C was remanded to the AO for further adjudication in accordance with the law. The appeals were partly allowed, with the Tribunal's decision reflecting these outcomes. Case-Laws Income Tax Tue, 28 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212045