https://www.taxtmi.com/caselaws?id=265805 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 69 of the Income Tax Act, as the investments were recorded in the books of account and the explanation provided by the assessee was satisfactory. Additionally, the Tribunal supported the deletion of the addition treating machinery repair expenses as capital expenses, emphasizing the necessity of regular maintenance for old machinery. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s orders on both issues, ruling in favor of the assessee on 9/9/15. en-us Wed, 09 Sep 2015 00:00:00 +0530 Fri, 16 Oct 2015 06:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265805 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 69 of the Income Tax Act, as the investments were recorded in the books of account and the explanation provided by the assessee was satisfactory. Additionally, the Tribunal supported the deletion of the addition treating machinery repair expenses as capital expenses, emphasizing the necessity of regular maintenance for old machinery. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s orders on both issues, ruling in favor of the assessee on 9/9/15. Case-Laws Income Tax Wed, 09 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265805