https://www.taxtmi.com/caselaws?id=168248 Expenditure on replacing worn-out loom parts was treated as allowable as current repairs where the work preserved and maintained the existing machinery without creating a new asset or new advantage. The distinction drawn was between repair and renewal or restoration: repair covers maintenance of an existing asset, while renewal goes beyond that. The word "current" was construed to mean repairs carried out when the need arises, not only minor or frequent repairs, and the commercial expediency of the expense, rather than its quantum or the time elapsed since first use, was the relevant test. On those facts, the replacement remained within current repairs and the deduction was allowed. en-us Mon, 27 Feb 1956 00:00:00 +0530 Fri, 06 Feb 2015 18:12:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168248 Expenditure on replacing worn-out loom parts was treated as allowable as current repairs where the work preserved and maintained the existing machinery without creating a new asset or new advantage. The distinction drawn was between repair and renewal or restoration: repair covers maintenance of an existing asset, while renewal goes beyond that. The word "current" was construed to mean repairs carried out when the need arises, not only minor or frequent repairs, and the commercial expediency of the expense, rather than its quantum or the time elapsed since first use, was the relevant test. On those facts, the replacement remained within current repairs and the deduction was allowed. Case-Laws Income Tax Mon, 27 Feb 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168248