https://www.taxtmi.com/caselaws?id=1775 The SC held that expenditures for wholesale replacement or modernization of entire machines in an integrated textile plant did not qualify as "current repairs" under section 31(i) and so were not allowable as deductions. The Court found the replacements were effectively purchases of new assets; each machine performed an independent function, and replacing an entire machine cannot be treated as repair. The Assessing Officer's disallowance was upheld and the earlier findings of the Commissioner (Appeals), Tribunal and High Court were set aside to the extent they treated such revenue expenses as falling within section 31(i). en-us Fri, 10 Aug 2007 00:00:00 +0530 Mon, 15 Sep 2025 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1775 The SC held that expenditures for wholesale replacement or modernization of entire machines in an integrated textile plant did not qualify as "current repairs" under section 31(i) and so were not allowable as deductions. The Court found the replacements were effectively purchases of new assets; each machine performed an independent function, and replacing an entire machine cannot be treated as repair. The Assessing Officer's disallowance was upheld and the earlier findings of the Commissioner (Appeals), Tribunal and High Court were set aside to the extent they treated such revenue expenses as falling within section 31(i). Case-Laws Income Tax Fri, 10 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1775