https://www.taxtmi.com/caselaws?id=189730 Replacement of a petrol engine with a diesel engine in a jeep was treated as revenue expenditure because it did not create a new asset; it only made the existing vehicle more economical and reduced running costs, forming part of the business profit-making process. Extra shift allowance on a generator was also held admissible despite the absence of a specific rule, following the Court's contemporaneous view on the issue. The reference was thus answered in favour of the assessee on the first question and in favour of the Revenue on the second, with no order as to costs. en-us Mon, 14 Aug 1989 00:00:00 +0530 Wed, 18 Jan 2017 18:05:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189730 Replacement of a petrol engine with a diesel engine in a jeep was treated as revenue expenditure because it did not create a new asset; it only made the existing vehicle more economical and reduced running costs, forming part of the business profit-making process. Extra shift allowance on a generator was also held admissible despite the absence of a specific rule, following the Court's contemporaneous view on the issue. The reference was thus answered in favour of the assessee on the first question and in favour of the Revenue on the second, with no order as to costs. Case-Laws Income Tax Mon, 14 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189730