https://www.taxtmi.com/caselaws?id=193027 Replacement of old and worn railway sleepers was tested against the current repairs principle under the Income-tax Act, 1922. The expenditure was treated as repair because it involved substitution of subsidiary parts of the railway line, not replacement of the whole undertaking or a substantial part of it. On that basis, the outlay was characterised as revenue expenditure and allowed as a deduction in computing business income. en-us Thu, 04 Apr 1963 00:00:00 +0530 Sat, 08 Jul 2017 18:26:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193027 Replacement of old and worn railway sleepers was tested against the current repairs principle under the Income-tax Act, 1922. The expenditure was treated as repair because it involved substitution of subsidiary parts of the railway line, not replacement of the whole undertaking or a substantial part of it. On that basis, the outlay was characterised as revenue expenditure and allowed as a deduction in computing business income. Case-Laws Income Tax Thu, 04 Apr 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193027