https://www.taxtmi.com/caselaws?id=217813 The Tribunal upheld the CIT(A)'s decision, determining that expenses on the Life Extension Program of Thermal Power Station I and rejuvenation of Bucket Wheel Excavators were revenue in nature. The expenses were considered as revenue expenditure for preserving and maintaining existing assets without leading to new assets or advantages. The Tribunal emphasized that costs incurred to maintain machinery efficiency, without capacity increase, should be treated as revenue expenses, in line with the decision in CIT v. Saravana Spinning Mills (P) Ltd. en-us Wed, 18 Jul 2012 00:00:00 +0530 Fri, 26 Oct 2012 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217813 The Tribunal upheld the CIT(A)'s decision, determining that expenses on the Life Extension Program of Thermal Power Station I and rejuvenation of Bucket Wheel Excavators were revenue in nature. The expenses were considered as revenue expenditure for preserving and maintaining existing assets without leading to new assets or advantages. The Tribunal emphasized that costs incurred to maintain machinery efficiency, without capacity increase, should be treated as revenue expenses, in line with the decision in CIT v. Saravana Spinning Mills (P) Ltd. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217813