Replacement or repair costs for plant and machinery are deductible as revenue expenditure if no lasting capital advantage is gained.

Replacement or repair costs for plant and machinery are deductible as revenue expenditure if no lasting capital advantage is gained. https://www.taxtmi.com/highlights?id=3919 Capital expenditure vs Revenue expenditure - any expenditure on replacement or repairs to plant and machinery which does not bring into existence any enduring or permanent advantage in the capital field is allowable as revenue expenditure. - HC en-us Mon, 04 Jun 2012 16:15:50 +0530 Mon, 04 Jun 2012 16:15:50 +0530 TaxTMI RSS Generator Replacement or repair costs for plant and machinery are deductible as revenue expenditure if no lasting capital advantage is gained. https://www.taxtmi.com/highlights?id=3919 Capital expenditure vs Revenue expenditure - any expenditure on replacement or repairs to plant and machinery which does not bring into existence any enduring or permanent advantage in the capital field is allowable as revenue expenditure. - HC Highlights Income Tax Mon, 04 Jun 2012 16:15:50 +0530 https://www.taxtmi.com/highlights?id=3919