https://www.taxtmi.com/news?id=143 The issue is whether "modernization and replacement expenses" qualify as current repairs deductible under section 31(i). The Court found that the proper test is whether the expenditure is genuinely repair in the ordinary sense rather than an alteration, improvement or capital replacement, and that the lower authorities failed to apply that test to the claimed modernization and replacement outlays. en-us Thu, 04 Oct 2007 04:23:00 +0530 Wed, 25 Jun 2008 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=143 The issue is whether "modernization and replacement expenses" qualify as current repairs deductible under section 31(i). The Court found that the proper test is whether the expenditure is genuinely repair in the ordinary sense rather than an alteration, improvement or capital replacement, and that the lower authorities failed to apply that test to the claimed modernization and replacement outlays. News - Thu, 04 Oct 2007 04:23:00 +0530 https://www.taxtmi.com/news?id=143