https://www.taxtmi.com/caselaws?id=3462 The court upheld the decisions of the lower authorities, confirming that the replacement of machinery is considered revenue expenditure and that the interest on borrowed capital advanced to the sister concern is allowable as a deduction under Section 36(1)(iii) of the Income-tax Act, 1961. en-us Wed, 18 Apr 2007 00:00:00 +0530 Mon, 28 Jul 2008 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3462 The court upheld the decisions of the lower authorities, confirming that the replacement of machinery is considered revenue expenditure and that the interest on borrowed capital advanced to the sister concern is allowable as a deduction under Section 36(1)(iii) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 18 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3462